Report published September 29, 2026
Markets Today: Bank of New Zealand Daily Update – 29 September 2026
Bank of New Zealand · September 29, 2026
Global bond yields rose to multi-year highs and US equities declined after President Trump rejected Iran's proposal regarding the Strait of Hormuz, driving Brent crude over US$108 before pulling back. In the local session, market focus centres on the NZ Pre-election Fiscal Update and an anticipated RBA rate hike to 4.6%.
Read the remaining 3 pages
Finvaulta summarizes Bank of New Zealand's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.Global bond yields surged and US equities declined following President Trump's rejection of Iran's proposal to reopen the Strait of Hormuz, pushing front-month Brent above US$108/bbl.
- 2.US 10-year Treasury yields reached an intraday peak of 5.27% and German 10-year Bund yields rose to 3.65% (highest since 2009) before partially retracing as oil retreated.
- 3.Gold dropped more than 3% toward US$4,100/oz driven by fast-money selling, while ETF holdings and central bank buying have cushioned a deeper fall so far.
Table of Contents
- Events round-up
- Good morning
- Coming up
- NZD exchange rates
- NZD/USD Forward Points
- NZD/AUD Forward Points
Report data
Currencies, Equities, Commodities, and Interest Rates Market Summary
| Metric | Estimate | Context |
|---|---|---|
| Brent Crude front-month peak | 108 USD/barrel | Front-month Brent crude futures traded above US$108 per barrel before retreating. |
| US 10-year Treasury Yield intraday peak | 5.27% | US 10-year yield peaked at 5.27% following the Brent crude spike. |
| German 10-year Bund Yield | 3.65% | Highest level since 2009. |
| Gold Daily Change | -3.7% | Gold fell more than 3% towards US$4,100/oz, closing at $4,129. |
| Dallas Fed Manufacturing Activity | 9.8 index | Came in at 9.8 vs. 7.3 expected. |
Reports in this series
Markets Today is shown in chronological order through this edition, published on September 29, 2026.
Part of the Markets Today series — view all 21 editions
Looking for the latest edition? BNZ Markets Today 06 October 2026 (Oct 6, 2026)
Access the full report
And others from the leading tier 1 banks.
Free account: read previews and a daily allowance of full reports. Pro removes the daily limit.