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The global markets today are abuzz with the rapid rise of US benchmark treasury yields. Market pundits are keeping a keen eye on 10-year yield, which, given its present momentum, is poised to touch 5% level. All eyes will also be on how traders react at this critical psychological level. Simultaneously, anticipation is building around Fed Chair Jerome Powell's forthcoming speech at the Economic Club of New York. It's widely expected that he will reiterate the stance on maintaining "higher for longer" interest rates in response to inflationary pressures. However, it's c...

Financial markets are once again immersed in a phase of risk aversion, a sentiment spurred by the notable ascent of benchmark treasury yields. US 10-year yield is confidently moving closer to the 5% mark. Even Japan's 10-year JGB yield is hitting another decade high. The prevalent mood has propelled safe-haven currencies like Swiss Franc, Yen, and Dollar to be the standout performers of the day. In contrast, Aussie, Kiwi, and Loonie trail behind. Euro and Sterling find themselves in an intermediate position, though the former shows slight dominance.

EDITORIAL The post-pandemic imbalances in the New Zealand economy are starting to work themselves out - finally. For many ordinary Kiwis, things still feel...

Gross bad loans stood at 1.93% of total advances, down 1 basis point sequentially. Its net NPA ratio was at 0.57%, down 1 basis point from the June quarter

Profit after tax (PAT) stood at Rs 721 crore in Q2 FY24 as compared to Rs 209 crore in Q2 FY23, registering a growth of 245 per cent year-on-year (YoY).