5 in 5 with ANZ

European GDP growth was much weaker than expected overnight, reinforcing the gap seen opening up between the US economy and the rest of the global economy and powering the US$ ever higher. In our bonus deep-dive interview, ANZ’s Asia Economist Krystal Tan details how Bank Indonesia is fighting to contain the pressures on the rupiah from that strong US$. Before accessing this podcast, please read t...

The yen and the renminbi are near record lows this morning vs the US dollar as the king of currencies is getting even more of a tailwind from higher bond yields. In our bonus deep-dive interview, ANZ’s Senior Economist for China Betty Wang explains the shift toward a new public housing model in China that looks a lot like the one used for the last 60 years in Singapore. Before accessing this podca...

The Australian and New Zealand dollars weakened sharply overnight against ‘King US Dollar’, which was helped by stronger-than-expected US factory output data lifting bond yields. In our bonus deep-dive interview, ANZ’s Chief Economist for Southeast Asia and India, Sanjay Mathur unpacks the rebound in consumer spending in the region after Covid. Before accessing this podcast, please read the discla...

The RBA is set to hold the cash rate for a third consecutive month later today, but with a hawkish twist. The US$ remains strong against the yen and renminbi. The RBI is keeping a floor under the rupee. In our bonus deep-dive interview, ANZ’s Group Chief Economist Richard Yetsenga look’s at India’s burgeoning economic growth as it steps up to host G20 leaders this weekend. Before accessing this po...

The RBA is set for a hawkish hold decision tomorrow as oil and iron prices hit multi-month highs. Non-farm payrolls suggest the US economy is cooling in a way that reassures the Fed. In our bonus deep-dive interview, ANZ’s Senior Commodities Strategist Daniel Hynes details why India’s booming EV production is electrifying demand for metals such as copper. Before accessing this podcast, please read...

The US dollar is stronger against the euro this morning after solid US consumer spending and inflation data contrasted with and more moderate inflation signs from Europe. In part two of a bonus deep-dive interview, ANZ’s Chief Economist for Greater China Raymond Yeung explains how China’s authorities are working to stop a slump in apartment prices that would threaten a ‘black swan’ event. Before a...

Guangzhou and Shenzhen have eased mortgage restrictions for first home buyers to boost apartment demand. Australia’s inflation was softer than forecast. In part one of a bonus deep-dive interview, ANZ’s Chief Economist for Greater China Raymond Yeung examines the (remote) prospects of China’s property downturn becoming a ‘black swan event’ for China’s economy. Before accessing this podcast, please...

US bond yields are down sharply this morning and US stocks are up on hopes the Fed won’t have to hike next month. In part one of a bonus deep-dive interview, ANZ’s Senior Rates Strategist Jack Chambers details why the RBA may accelerate its Quantitative Tightening (QT). Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

China’s authorities moved over the weekend to stimulate stock market activity, but an initial 5% surge has faded overnight. In our bonus deep-dive interview, ANZ’s Senior Rates Strategist Jack Chambers details why the RBA may accelerate its Quantitative Tightening (QT). Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The US$ is strong above 146.4 yen after the Fed warned inflation was still too high and it may have to hike again. Traders are on high alert for BoJ intervention. In our bonus deep-dive interview, ANZ Group’s Chief Economist Richard Yetsenga looks beyond cyclical inflation to where structural inflation is stronger. Before accessing this podcast, please read the disclaimer at https://www.anz.com/in...

US stocks are down around 1% and US Treasury yields are up 3-5 basis points on concerns big central bank speeches tonight could be hawkish. US second tier data was stronger than flash PMIs indicated. In our bonus deep-dive interview, ANZ’s Chief Economist for Greater China Raymond Yeung explains the downturn in China’s property market and the wider macro-economic implications. Before accessing thi...

US stocks and bonds are rallying after the first indicators of global business activity in August were much weaker than expected, reinforcing market expectations central banks will be able to cut interest rates sooner and by more. In our bonus deep-dive interview, ANZ’s Head of FX Research Mahjabeen Zaman about whether the BRICs have any realistic hope of breaking the global financial system’s rel...

The PBoC has bolstered support for the renminbi, fixing the rate well above market expectations and squeezing funding costs higher for short sellers. US existing home sales fell unexpectatedly. Europe’s current account deficit surged. In our bonus deep-dive interview, ANZ’s Head of G3 Economics Brian Martin explains why the real neutral interest rate in the US is up around 1% to 0.5-1.0%. Before a...

The US dollar strengthened again overnight to over 146 yen, thanks to another surge in the 10-year Treasury yield to 4.35% ahead of a key Fed speech on Friday. In our bonus deep-dive interview, ANZ’s Head of Asia Research Khoon Goh explains why Vietnam’s economy is recovering after a slow start to 2023.  Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional...

China is expected to cut a key lending rate today and all eyes this week will be on Jerome Powell, who starts the Jackson Hole symposium on Friday night. In our bonus deep-dive interview, ANZ’s Senior Australian Economist Adelaide Timbrell delves into why Australian house prices are rising again, despite the RBA’s rate hikes. Before accessing this podcast, please read the disclaimer at https://www...

The US 10-year Treasury yield jumped to 16-year highs overnight on growing talk the Fed will have to hike again. Risk-sensitive currencies are weak on China’s rapid slowdown. In an extended bonus deep-dive interview, ANZ’s Group Chief Economist Richard Yetsenga looks at why China’s stimulus isn’t working this time around. Before accessing this podcast, please read the disclaimer at https://www.anz...

US industrial production data was much stronger than expected overnight. The RBNZ held its cash rate, but hinted it may have to do a bit more inflation fighting. In our bonus deep-dive interview, ANZ’s Head of Australian Economics Adam Boyton looks at the contest that will play out between stronger real wages as inflation falls, and higher real interest rates, also on that falling inflation. Befor...

US retail sales data was stronger than expected, ramping up the inflation pressure on the Fed. But China’s growth is slowing sharply, leading to a surprise rate cut. Oil prices slid on China’s weak data. In our bonus deep-dive interview, ANZ’s Senior Commodities Strategist Daniel Hynes details what an even harder slowdown of apartment building in China might do to commodity prices. Before accessin...

The Aussie and Kiwi dollars are down near nine-month lows this morning, thanks to a strong US dollar and concerns about China’s slowing economy. In our bonus deep-dive interview, ANZ Asia Economist Krystal Tan details how El Nino is likely to affect food production and inflation. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US PPI inflation was a bit faster than expected in July, which pushed bond yields up on Friday night. But China’s economy continues to struggle, with loan growth slumping to a 14-year low. In our deep-dive-in-five interview, ANZ’s New Zealand Chief Economist Sharon Zollner looks at whether the Reserve Bank of New Zealand can keep pausing its Official Cash Rate at 5.5% Before accessing this podcast...

US inflation was flat at 0.2% in July, which reinforced expectations the Fed will pause rate hikes next month. Strike threats on the Northwest Shelf are hitting global LNG markets. The RBI held rates with a hawkish twist. In our deep-dive-in-five interview, ANZ’s Group Chief Economist Richard Yetsenga explains why China can’t just flick the stimulus switch again to combat its growth slowdown. Befo...

Oil prices rose again overnight to their highest levels since January on supply worries. Rice prices also surged to 15-year highs. Any return of food price inflation would be a headache for central banks. In our deep dive interview, ANZ’s Chief Economist for Southeast Asia and India, Sanjay Mathur, explains why tomato prices are up 800% in parts of India, and why it’s worrying the RBI. Before acce...

China’s exports and imports fell more than expected in July, which drove stocks down in Asia overnight. US bond yields fell too after Moody’s downgraded 10 mid-sized US banks. Deflationary signs are expected from China later today. In our deep dive interview, ANZ’s Senior International Economist Tom Kenny unravels what a ‘Goldilocks’ recovery for the US economy would mean for global interest rates...

All eyes are on US and Chinese export and inflation data over the next three days. Deflation is a growing prospect in China on weak consumer spending and trade. In our deep dive interview, ANZ’s NZ’s Agriculture Economist Susan Kilsby explains how that weak Chinese consumer demand has hammered prices lower for dairy farmers in New Zealand. Before accessing this podcast, please read the disclaimer...

US jobs growth was a bit weaker than expected, but wage inflation was a touch firmer than forecast. This week’s key data is on Chinese inflation on Wednesday. In our deep dive interview, ANZ’s Senior China Economist Betty Wang and ANZ’s Senior Commodities Strategist Daniel Hynes drill down into how commodities demand shifting from China to India will affect Australia’s exporters. Before accessing...