Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
The New Zealand bonds plunged Monday as investors wait to watch the Reserve Bank of New Zealand (RBNZ) Governor Graeme Wheeler’s speech, alter this week amid a muted trading session.
At the time of closing, the yield on the benchmark 10-year bond, which moves inversely to its price, jumped 3-1/2 basis points to 2.86 percent, the yield on 7-year note also climbed 3-1/2 basis points to 2.74 percent while the yield on short-term 2-year note traded 1 basis point lower at 1.96 percent.
In New Zealand’s latest 2017 Budget, unveiled today by the country’s MoF, the Government has introduced a Family Incomes Package to support those on lower and middle incomes. This includes an adjustment to tax thresholds, an increase in Working for Families, as well as increases in accommodation support. Spending is being increased in a range of areas, including public and social services, as well as much needed infrastructure investment.
Meanwhile, the New Zealand’s benchmark S&P/NZX 50 Index closed 0.39 percent lower at 7,412.74 while at 05:00GMT, the FxWirePro's Hourly NZD Strength Index remained neutral at 71.59 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
