Reflecting the risk-averse environment, the 10-year US Treasury bond yield is down 5.6% on the day and is most inverted with the 3-month T-bond yield since October. Additionally, major global equity indexes are suffering heavy losses.
In the meantime, the data published by Statistics New Zealand on Monday revealed that Retail Sales rose 0.7% on a quarterly basis in the fourth quarter after increasing 1.7% in the previous quarter and put additional weight on the NZD's shoulders.
In the meantime, the data published by Statistics New Zealand on Monday revealed that Retail Sales rose 0.7% on a quarterly basis in the fourth quarter after increasing 1.7% in the previous quarter and put additional weight on the NZD's shoulders.