Daily Alert: Stocks hit, but other markets carry on

  • Risk sentiment took a decent hit overnight but, interestingly, there hasn’t been any fallout for currencies.
  • Inflation fears largely square the circle and investors are increasingly worried that rising inflation pressures will force central banks to capitulate on their ‘patience’ mantra and start reducing stimulus earlier than forward guidance.
  • Locally, the 4% mom lift in NZ April retail card spending reported yesterday was much stronger than expectations.


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