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Daily Alert: Yields move higher despite heightened Ukraine tensions

  • Yields move higher despite heightened political tensions, IMF downgrades to global growth and more policy support from China
  • Risks of a hard landing in NZ are climbing, and we expect OCR cuts will be needed after the RBNZ acts stringently to bring inflation under control
  • The latest dairy auction was soft, but we retain out positive NZ 9.50 kgMS milk price forecast for 2021/22

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