Superpower budgets drive irresponsible risks
Kia ora,
Welcome to Wednesday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.
I'm David Chaston and this is the international edition from Interest.co.nz.
And today we lead with news both superpowers are dicing with unsustainable budget deficits that are posed to explode. The Moody's downgrade was just a teaser. The bond market will make the real judgment.
But first today, the overnight dairy auction brought the expected settling of prices, even though they remain high. They dipped overall by -0.85% on the low volumes offered but with the…
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