Daily Alert: Latest US data exceed expectations

  • Following the government’s announcement yesterday, New Zealand has stepped down COVID alert levels.
  • In the aftermath of the positive data prints, US Treasury yields have continued to oscillate near one-year highs.
  • Meanwhile, we have revised our OCR outlook; we now expect the RBNZ to begin gradually lifting the OCR from the second half of 2022, with August 2022 as our tentative starting point.

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