Latest / The Kākā by Bernard Hickey
Inside NZ's Housing Theory of Everything
TL;DR: My top six things to note around housing, climate and poverty in Aotearoa’s political economy on Tuesday, August 6 are:
1. Global markets rout to accelerate lower mortgage rates
Markets now see 100 bps of Fed buts by end of 2024
Yesterday’s 13.5% fall in Japan’s stock market was its biggest one-day fall since the 1987 crash and US stocks are down nearly 3% this morning. Global markets now expect the US Federal Reserve will have to cut its Fed Funds Rate, the base for global interest rates and our fixed mortgage rates, four times and by a total of 100 basis to a range of 4.25% to 4.5%…
The skinny
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