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Daily Alert: The Final Countdown

  • US sharemarkets edged higher on Friday as a lift in the value of shares in Walt Disney outweighed news of a slump in consumer sentiment while Treasuries were higher on Friday (yields lower) in response to a slump in consumer sentiment to decade lows.
  • The local sharemarket was up 0.6% on Friday, but flat for the week, and 6% off the January high. NZ 10-year yields rose 11 basis points over the week.
  • The week’s main event is Wednesday’s RBNZ announcement; we expect the RBNZ to lift the OCR by 25bp to 0.50%.

 

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