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.

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