Kia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the ECB is warning investors aren't taking geopolitical risks into account nearly enough. But first in China, we are getting reports that Beijing is developing a plan to save their housing markets and SOE developers by having the state buy huge numbers of unsold properti...
May 16, 2024•6 min•Ep. 1296
Kia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news financial markets are in a risk on mood today. First, the April US inflation rate brought no surprises, coming in as expected at 3.4%, a dip albeit a small one, from March's 3.5%. But it still qualifies as 'sticky' - there have been nine lower readings in the past twe...
May 15, 2024•6 min•Ep. 1295
Kia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news about the latest and pre-election Aussie Budget delivered overnight. But first, the American retail Redbook Index rose +6.3% last week from the same week a year ago, suggesting buoyant trading in physical stores, gains well ahead of inflation. It is not only the stron...
May 14, 2024•6 min•Ep. 1294
Kia ora, Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news China seems to be on the cusp of bringing back its traditional stimulus play to bolster its misfiring economy. But first up today there is more evidence US inflation isn't cooling as the Fed would want. A respected survey by the NY Fed shows that consumer inflation expe...
May 13, 2024•4 min•Ep. 1293
Kia ora, Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news of generally modest and uninspiring economic data. We start today with updates from China. Their April CPI came in +0.3% higher than a year ago, low but not as low as expected and not deflation yet (which they had from October to January). In the circumstances they will ...
May 12, 2024•7 min•Ep. 1292
Kia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with that there is a surprise renewed jump in global shipping freight rates underway again. But first, new US jobless claims rose last week. The headline seasonally adjusted rate "surged" to +231,000 and up from +209,000 the prior week. But the actual number of new claims was only...
May 09, 2024•5 min•Ep. 1291
Kia ora, Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news market-moving data is scarce today but investors should be reading the latest US CBO update. First, there was only a modest rise in consumer debt in March, up a mere +1.5% and substantially less than the rise analysts were expecting. Stepping back for a longer term tre...
May 08, 2024•4 min•Ep. 1290
Kia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the positive global economic news rolls on, despite the best efforts of some regional forces to risk everything with crazy adventures. First, today's dairy auction brought a welcome, if small, rise. And it is maybe more than it looks given the signals from the derivat...
May 07, 2024•5 min•Ep. 1289
Kia ora, Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the global service sector is in reasonable shape, helping generate new impetus to the world's economy. Equity markets are rising the wave. In China, their private Caixin services PMI brought some good solid news. It was little-changed in April from the expansion in Marc...
May 06, 2024•4 min•Ep. 1288
Kia ora, Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the American labour market data for April seemed to have something for everyone. But first, in the coming week it will be relatively quiet, especially on the US data front. But the Q1 earnings season is in its final weeks and still includes some major reporting. Elsewher...
May 05, 2024•7 min•Ep. 1287
Kia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the OECD sees a world economy in recovery and about to expand at an increased rate, despite the many challenges. It is a perspective of resilience. But first in the US, jobless claims held at a two month low ahead of tomorrow's April non-farm labour market report. There ...
May 02, 2024•5 min•Ep. 1286
Kia ora, Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news today's Fed positioning is less hawkish that markets had expected. The US Fed policy announcement today brought no change in their rate targets at 5.25-5.50%. They did note that ongoing inflationary pressures and a tight labour market has stalled progress toward bringi...
May 01, 2024•4 min•Ep. 1285
Kia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news that as we await our local labour market report, the global economy is expanding modestly, but inflation isn't killed off yet. First in the US labour costs rose +4.2% in the year to March, up +1.2% from the prior quarter. This is the highest rate of increase since mid...
Apr 30, 2024•5 min•Ep. 1284
Kia ora, Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news that today we are in the quiet period before some big news coming up in the rest of the week, starting with our own labour market data out tomorrow, and the US Fed rate review on Thursday (NZT). In the meantime in the US, the pressure from rising petrol prices seems to ...
Apr 29, 2024•4 min•Ep. 1283
Kia ora, Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news that jobs will be in focus this week. In the week ahead, all eyes will be on the US Fed's interest rate decision on Wednesday, followed closely by their April labour market report on Saturday (NZT). And that comes after our own local labour market report for March on Wed...
Apr 28, 2024•6 min•Ep. 1282
Kia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news all about American GDP and reactions to the first quarter results. US economic activity expanded an annualised +1.6% in Q1-2024, compared to +3.4% in the previous quarter and below forecasts of +2.5%. It was the lowest growth since the contractions in the first half of 2...
Apr 25, 2024•6 min•Ep. 1281
With economic growth no longer producing benefits seen in the past such as raising living standards for the middle class, and human activity having exceeded some planetary boundaries, it's time to embrace degrowth, argues Jennifer Wilkins. Wilkins is a researcher and advocate on sustainability in business with a focus on degrowth. In a new episode of interest.co.nz's Of Interest podcast , she discusses the degrowth movement. "Degrowth is normally described or defined as an equitable downscaling ...
Apr 24, 2024•33 min•Ep. 1280
Kia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the world's factories are getting busier, especially in India. But first, the strong run of American retail sales is continuing. Sales at bricks & mortar stores on a same-store basis were +5.3% higher last week than the same week a year ago. This extends the +5% e...
Apr 23, 2024•5 min•Ep. 1279
Kia ora, Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news markets are waiting for some big earnings reports, especially from Big Tech in the US. They are waiting in a positive mood. But first in the US, the Chicago Fed's National Activity Index rose for a second consecutive month March, the first time that has happened since m...
Apr 22, 2024•5 min•Ep. 1278
Kia ora, Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the ongoing rise in the world economy is shifting some key metals prices into a bull-run. But first a look ahead. The American data to be updated this week will be their advance Q1-2024 GDP which is currently expected to come in at +2.5%. That will follow key updates to ...
Apr 21, 2024•6 min•Ep. 1277
For open banking to really grab people's attention the focus needs to be on the services it can enable, rather than the technology behind it, says Andrew Dentice. In the latest episode of interest.co.nz's Of Interest podcast , Dentice, a technology lawyer and partner at HudsonGavinMartin, discusses the data sharing that enables open banking, what open banking actually is, why progress towards it has been slow in New Zealand, what's going on with open banking overseas, the threat and opportunity ...
Apr 19, 2024•33 min•Ep. 1276
Kia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news that while we weren't watching a few people are making financial bets so large they could hurt us all. In its latest global financial stability report , the IMF says near-term risks have receded as disinflation (that is, the lowering of the positive inflation rate) is en...
Apr 18, 2024•5 min•Ep. 1275
Kia ora, Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news our meat exports to China face tough conditions, and not just from competition from excess Aussie lamb supply. But first, US mortgage applications rose +3.3% last week even as benchmark mortgage interest rates rose to 7.13% plus points and a four month high. (A month a...
Apr 17, 2024•5 min•Ep. 1274
Kia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news the US Fed is telling markets rate cuts from them are not coming soon. First up today, the overnight dairy auction confirmed the recent rises, but didn't add to them in a subdued event. In USD terms overall prices were up +0.1 and in NZD terms up +1.5%. Volumes were s...
Apr 16, 2024•7 min•Ep. 1273
Kia ora, Welcome to Tuesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news that bullish American consumers are likely pushing back the likelihood the US Fed will cut its policy rate any time soon. Financial markets now price in only two cuts this year, one in September and one in December and far less than the four priced in at the start of th...
Apr 15, 2024•5 min•Ep. 1272
Kia ora, Welcome to Monday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news of an export setback in China that may signal a tougher path for them in the rest of 2024. But first, this week will kick off the US earnings season which will run for a few weeks until the Q1-2024 results are all in. Bank profits will be early in this set, many key ones...
Apr 14, 2024•5 min•Ep. 1271
Finance spokesperson Barbara Edmonds says a re-elected Labour Government would have been willing to expand its planned public sector cuts to protect key programmes. The tax lawyer turned MP spoke on Interest.co.nz’s Of Interest podcast about the Coalition’s fiscal policy and her role in rebuilding the Labour Party after its election defeat. Part of that project will be rehabilitating the party’s economic credibility after presiding over a massive cost of living crisis. Ipsos’ February issues pol...
Apr 12, 2024•23 min•Ep. 1270
Kia ora, Welcome to Friday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news today's data releases in the shadow of yesterday's highish US CPI release, and there is some talk of rate cuts elsewhere. First up in the US, the number of new jobless claims fell last week, consigning the prior week's jump to the 'anomaly' basket. There are now 1.9 mln ...
Apr 11, 2024•4 min•Ep. 1269
Kia ora, Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news it is all about American inflation today, and the consequences of missing expectations. The American annual inflation rate picked up slightly for a second straight month, to 3.5% in March, its highest rate highest six months, and well above the 3.2% rate in February. A...
Apr 10, 2024•5 min•Ep. 1268
Kia ora, Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. And today we lead with news business owners are having difficulty matching their sentiment with the conditions around them. And financial markets are in a bit of a pre-dawn shadow as they await the US CPI data tomorrow. Headline CPI is expected to tick up, core inflation tick lower. Both levels ...
Apr 09, 2024•5 min•Ep. 1267
