The November result brought the expected rise in services hiring, but an unexpected fall in manufacturing job levels. US exports of goods and services came in little different in October than September (-1.0%), but were +1.3% higher than year-ago levels. They held its target for the overnight rate at 5% for a third consecutive meeting, in line with market expectations, leaving borrowing costs at a 22-year high. The Australian 10 year bond yield is now at 4.23% and down another -6 bps from yesterday. That all means our TWI-5 starts today just on 70.7 and up +20 bps from this time yesterday.

Source: New Zealand Herald December 06, 2023 22:03 UTC