Some reversal of Friday’s price action, with US Treasury yields lower and USD lower
NZ rates follow offshore move higher but then fall after RBNZ inflation expectations figures show a drop
Yellen says the US economy remains resilient despite headwinds
The US Government just passed yet another spending bill, up to USD$750 Billion, which will be funded by further debt and the Fed, called the “Inflation Reduction Act”
NZD and AUD outperform, temporarily breaking above 0.63 and 0.70 overnight
RBNZ 2-yr inflation expected. (%), Q3: 3.07 vs. 3.29 prev.