Daily Alert: Waiting for signs

  • Markets were largely directionless overnight, waiting for signals on the US fiscal package and largely ignoring the Trump impeachment trial.
  • US Treasury yields edged higher on low volumes ahead of major US debt sales (10Y 1.16%), with a mild curve steepening bias.
  • Locally, NZ retail card spending data for January showed a deceleration in annual growth to 1.9% from the 3.5% annual rate in December.

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