Investors rush for safe havens in Government bonds; Some fear energy price shock and war will lead to recession; Bund back under 0% again; CoreLogic sees housing market cooling as standoff begins
FYI I've opened this up for all, given the scale of moves last night and the implications of this shift for NZ, and because I've plugged in a lot of background many may not have seen before.
Housing is all we have .. question: what could happen globally that could cause the banks to stop lending? My only experience with a house price crash was buying a flat in London in 2006 and then "credit crunch hitting". Doesn't feel like that can happen now with central banks but inflation has been low up until now so wondering if it's possible to get another crunch.
An astute observation from Luke Malpass in Stuff today in relation to Ashley Bloomfield coming under fire for the MoH over estimating its ability to process PCR tests per day….
“It was also notable that there was no politician there at the 1pm media conference with Bloomfield, who was effusive in his apology, but not his usual ebullient self. This Government – and in particular Jacinda Ardern – is happy to take curtain calls and credit for the Ministry of Health’s good work – of which there has been plenty. But when there is a stuff-up the prime minister is very often absent, leaving a junior minister or just officials. Either way, when things go wrong it suddenly seems to be the ministry’s fault. Bloomfield, she said, had “acknowledged what’s gone wrong”.
Seems Ashley Bloomfield is now positioned at the same bus stop as Andrew Coster was two weeks ago.
I've read in the Stuff article today, that there was one reported death during the Omicron outbreak having been infected with the Delta variant, as whole genome sequencing was completed. By the sounds, they are not sequencing everyone, as no samples have been given for the other deaths that have occurred.
I for one am worried for my family, and rightlyfully everyone else in the community that could potentially be implicated by the Delta variant and not the lesser threatening but still worry of a variant Omicron.
FYI I've opened this up for all, given the scale of moves last night and the implications of this shift for NZ, and because I've plugged in a lot of background many may not have seen before.
Housing is all we have .. question: what could happen globally that could cause the banks to stop lending? My only experience with a house price crash was buying a flat in London in 2006 and then "credit crunch hitting". Doesn't feel like that can happen now with central banks but inflation has been low up until now so wondering if it's possible to get another crunch.
An astute observation from Luke Malpass in Stuff today in relation to Ashley Bloomfield coming under fire for the MoH over estimating its ability to process PCR tests per day….
“It was also notable that there was no politician there at the 1pm media conference with Bloomfield, who was effusive in his apology, but not his usual ebullient self. This Government – and in particular Jacinda Ardern – is happy to take curtain calls and credit for the Ministry of Health’s good work – of which there has been plenty. But when there is a stuff-up the prime minister is very often absent, leaving a junior minister or just officials. Either way, when things go wrong it suddenly seems to be the ministry’s fault. Bloomfield, she said, had “acknowledged what’s gone wrong”.
Seems Ashley Bloomfield is now positioned at the same bus stop as Andrew Coster was two weeks ago.
https://www.stuff.co.nz/national/politics/opinion/127921253/covid19-ashley-bloomfield-fronts-over-failure-no-minister-to-be-seen
Hi Bernard,
I've read in the Stuff article today, that there was one reported death during the Omicron outbreak having been infected with the Delta variant, as whole genome sequencing was completed. By the sounds, they are not sequencing everyone, as no samples have been given for the other deaths that have occurred.
I for one am worried for my family, and rightlyfully everyone else in the community that could potentially be implicated by the Delta variant and not the lesser threatening but still worry of a variant Omicron.
https://www.stuff.co.nz/national/health/coronavirus/127935398/covid19-one-death-during-omicron-outbreak-was-infected-with-delta-variant