Daily Alert: NZD outperforms in otherwise quiet night
- Financial markets are still in weekend-mode for the most part. There hasn’t been much in the way of news & events to cover overnight.
- Bond and equity markets have consolidated. US 10-year bond yields ground up a few bps to 1.48%, still some 20bps below their October highs.
- There was more action in commodity markets. A positive night for energy (oil +0.7%) and metals prices (copper +0.8%) has emboldened commodity currencies, with the NZD sitting at the top of the overnight FX performance rankings.
