Financial Markets Wrap

NZD Underperforms in April

Risk appetite, equities and global commodity prices push higher through April...

NZD Flat Amidst Plunging Global Rates

• Interest rates around the world plunged as central banks surprised with dovish tilts
• Plunging rates supported risk appetite, seeing rising equity markets
• Low currency vol continues, with NZD well supported

NZD Broadly Tracks Sideways in February

• Risk appetite improves further, supporting global equity markets and commodities
• NZD performance underwhelming in the face of those positive forces
• Some drag in NZD evident from lower NZ rates and a weaker AUD