MARKET UPDATE 07- Feb-2018

A quick look at the markets today…

US stocks bounced about 2 percent yesterday after suffering the biggest one-day sell-off in more than 6 years.

Things seem to have calmed down for now, however, the 10-year US treasury yield is on the rise again, trading up by three basis points at 2.80 percent.

This morning US trade balance came in at $53.1 billion deficit. It’s the widest deficit since October 2008.

NZ jobs employment change was a beat and so to was the participation rate. Their unemployment rates too were lower than expected for the fourth quarter.

We have major releases coming out tonight from the Euro area and the interest decision for New Zealand tomorrow. Although interest rate is expected to remain at 1.75% for New Zealand, it would be certainly interesting   to hear their monetary policy statement.

& that’s all for now…..Vinaka.

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