Daily Alert: Wall Street mounts a comeback as Q4 US GDP confirms shrinkage

  • Advance US GDP data overnight was a bit weaker than markets had been anticipating but the tone on Wall Street was positive overnight, despite the softer read.
  • After touching the lowest level in nearly a month yesterday, the US 10-year yield has now lifted back above 1% and the yield curve has steepened.
  • Yesterday’s NZ merchandise trade data showed the annual trade surplus easing a shade in December, but still close to historic highs.

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