Global Economic Update
Wall Street has bounced back, while gold has hit a new all-time high. China's exports have soared by 8.3% in September, despite a 27% slump in exports to the US.
- US exports have shrunk, with the 10-year US Treasury yield at 4.07%.
- India's inflation has fallen below target, and the Nobel Prize in economics has highlighted the long-term benefits of creative destruction.
- Precious metals prices have been pushed up sharply, with gold leaping again and oil remaining little-changed.
The New Zealand dollar is currently at 57.4 US cents, with the TWI-5 at 61.9. This comes as news emerges that Trump and Vance are attempting to roll back their aggression in the face of financial market reactions and firm Chinese pushbacks.
China's exports rose to US$329 billion, the most in seven months, despite a -27% slump in exports to the US.
Author's summary: Global economy sees mixed signals with China's exports rising and US exports shrinking.