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Daily Alert: Early days in NZ but global stocks crushed as FOMC meeting approaches

  • Still very early days in NZ with the Omicron outbreak, with some positive signs from Australia.
  • Markets traded with a more defensive tone overnight with the looming FOMC rates decision, heightening geopolitical tensions over the Ukraine, and warnings by WHO Chief Ghebreyesus that new COVID-19 variants could quickly emerge, unnerving investors.
  • Markets await Thursday's FOMC and Bank of Canada decision and the NZ CPI.

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