An uncertain world
• US Fed. No surprises with the Fed keeping interest rates on hold & noting uncertainty has “increased” due to what is happening policy-wise.• Mixed markets. US equities rose while bond yields declined. The USD gave back earlier gains. AUD near ~$0.6360 ahead of today’s AU jobs report.• NZ GDP. Data confirmed NZ emerged from recession in Q4 ’24. But there is still a lot of ‘slack’ suggesting more RBNZ rate cuts still likely. Global Trends The US Federal Reserve was in focus this morning. And much like the broader market the world’s most influential central bank stressed that the...