New Zealand Morning Focus

Global risk sentiment improved on reports of a US-Iran deal and softer US inflation data, despite a downward revision to US Q1 GDP growth. The New Zealand market is adjusting to reduced bond issuance forecasts following the latest Budget.

Key Takeaways

• 1.Risk sentiment has rebounded globally following reports that a US-Iran deal is close to being reached.
• 2.The second estimate of US Q1 GDP was revised lower to 1.6%, indicating that underlying economic momentum is narrower than previously thought.
• 3.New Zealand bond yields are expected to open lower as the recent Budget reduced forecast bond issuance.

Table of Contents

• Highlights
• Data and events today
• Financial markets
• Global markets overview
• Data/event pulse
• Key themes and views
• Important Notice

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