Daily Alert: Fresh 2025 lows for US yields as growth concerns mount
- Concerns over the slowing US economy weighed on US yields, with 10-year Treasury yields hitting fresh 2025 lows. The shift lower in US yields has occurred despite the US House of Representatives passing a budget blueprint that included further tax cuts that could increase the US fiscal deficits by US$3 trillion over the next decade
- US and global stocks lifted on hopes of a turnaround in AI, but this has faded and has left the Nasdaq about 5% down on a week ago. President Trump reaffirmed 25% tariffs on Mexico and Canada exports to the US and has signalled 25% tariffs for a selection of EU exports to the US
- BOE policymaker Dhingra noted that higher US tariffs could be disinflationary for the UK given the diversion of trade away from the US. We believe a similar dynamic could occur here in NZ
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Mark Smith
Senior Economist
Mark joined ASB in 2017, with over 20 years of public and private sector experience working as an economist in New Zealand and the UK.
His resume includes lengthy stints at ANZ and the Reserve Bank of New Zealand, and he has also worked at the Bank of England, HM Treasury and the New Zealand Transport Agency. Mark's areas of specialisation include interest rate strategy, macro-economic analysis and urban economics.
Born and bred in the Waikato, Mark studied at Waikato University where he graduated with a Master of Social Sciences, majoring in Economics.
Mark's key strengths are the ability to use his extensive experience, inquisitive nature, analytical ability, creativity and pragmatism to dig a little deeper and to deliver common sense solutions to tackle complex problems.
When not at work Mark likes to travel, keep fit and spend time with his friends and family.
- Email: Mark
Chris Tennent-Brown
ASB Wealth Senior Economist
Chris has worked as an economist for ASB and Commonwealth Bank of Australia in Sydney since 2005. His work has involved monitoring and forecasting trends in the New Zealand economy, with a focus on drawing implications for financial markets and investments. Chris is passionate about savings issues, and much of his current work is focussed on broadening peoples understanding of investments. Chris obtained a Bachelor of Commerce at Auckland University, majoring in Economics, and prior to joining ASB worked in the funds management industry for Bankers Trust and BT Funds Management. With over 20 years' experience in finance, Chris has also spent several years farming, and was a New Zealand representative cyclist. When not at work, Chris likes to travel, cycle, and spend time with his family and numerous pets.
- Email: Chris