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Daily Alert: NZ yields jump as inflation soars

  • Yesterday saw a 2.2% Q3 jump in CPI prices and decade-high 4.9% annual inflation print, well above market, ASB and RBNZ expectations.
  • Currency market reaction to the NZ CPI print was modest, but yesterday has seen a large pick up in NZ yields and upward revisions for OCR rate hike pricing.
  • Markets were generally quiet overnight.

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