New Zealand Morning Focus

Global markets were weighed down by tech weakness and lower oil prices, while new data highlighted US small business struggles and German industrial production trends.

Key Takeaways

• 1.Global equity markets fell due to technology sector weakness, while bond yields declined on oil price drops and US-Iran negotiation progress.
• 2.US small business optimism hit its lowest level since October 2024, highlighting economic bifurcation and labor market challenges.
• 3.German industrial production increased 0.4% in April, though the outlook remains weak due to declining factory orders.

Table of Contents

• Highlights
• Data and events today
• Financial markets
• Global markets overview
• Key data and events
• Key themes and views