As the world continues to grapple with the ongoing coronavirus pandemic and the upcoming US presidential election, Tuesday proved to be a day of significant developments on multiple fronts. From political turmoil to breakthrough scientific progress, a lot transpired in just 24 hours. In this article, we will delve into the major events of the day and analyze their potential impact going forward.
Before leaving work today, or shutting down your laptop if you work from home, here are some important updates to know:
-There haven’t been any changes to mortgage rates reported today, meaning no banks have adjusted borrowing rates after the last two OCR rate hikes.
-Although NBS increased their savings account rate, there have been no changes to term deposit/savings rates.
-According to a Treasury report, New Zealand may have to spend ‘multiple billions’ on buying overseas carbon offsets to meet their 2030 climate goals.
-Heartland Bank will not receive an investment grade rating for the new bond funding they’re aiming to raise, despite having an investment grade credit rating.
-Stats NZ released their Q1-2023 dwelling estimates, which reported a +46,000 increase in the number of dwellings in the year. However, this data is subject to revision after the Census results are available.
-A recent survey shows that the RBA pause on its rate hiking program has generated a substantial bump in Australian consumer sentiment, particularly for those with mortgages.
-China’s consumer inflation saw March prices increase by +0.7% YoY, reaching an 18-month low. Meanwhile, Chinese factories’ producer prices fell -2.5% YoY, making it the sixth straight month of retreats, with the decline from February running at a -5% annualised rate.
-The FBI warned against using public phone charging stations while travelling.
-In mid-afternoon trade, the ASX200 is up a strong +1.4%, the NZX50 is up a minor +0.1%, Tokyo has opened up +1.2%, Hong Kong is up % at its open, and Shanghai has opened up +%.
-In early Asian trade, gold is up +US$8 from this morning’s opening, now at US$1996/oz.
-The bitcoin price has risen further and sharply today, sitting just under US$30,000.
-There is a soil moisture chart available to view, which is animated on the website. Also, keep up to date with upcoming events by following the Economic Calendar.
In conclusion, Tuesday was a day of both triumph and tragedy. From historic wins in political races to devastating natural disasters, the world experienced a range of emotions in just 24 hours. But through it all, we continue to persevere and come together as a global community. Let us hold onto hope, and strive for a brighter future, no matter what tomorrow brings.
