No-one is expecting any change to the OCR, but signals for when it will be cut will be keenly awaited. Almost 80% of these companies came in with better than expected earnings-per-share, and 60% better than expected revenues. Global nickel prices have risen more than US$2000/tonne, up +11.3% over the past week over supply fears. The UST 10yr yield is now at 4.42% and unchanged from Saturday but down -8 bps from this time last week. That all means our TWI-5 starts today just on 70.4, unchanged from Saturday and up +80 bps in a week.

Source: Stuff May 19, 2024 22:46 UTC