5 in 5 with ANZ

Donald Trump lands in China. Oil is down slightly and stocks are up. US producer price inflation is up as well. Australian home loans tumbled in March. And New Zealand inflation expectations rise.

In our deep-dive interview, ANZ Senior Rates Strategist Jack Chambers reviews the Australian Government bond issuance programme announced following Tuesday night’s budget.

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Australia forecasts budget deficits for the next four years, but they’re better than expected as savings allow for higher spending. Oil prices rise 3% and stocks fall as concerns grow over the US-Iran ceasefire. And US inflation rises in April.

In our deep-dive interview, ANZ Head of G3 Economics Brian Martin says the US labour market remains structurally weak, keeping wage growth and inflation pressures down.

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Oil prices rise 3% after Donald Trump rejects Iran’s latest offer to restart talks. Australia’s Budget tonight will be watched for more cost of living relief for households. And inflation in China is higher than expected.

In our deep-dive interview, ANZ Commodity Strategist Soni Kumari examines just how exposed aluminium supply and prices are to the Middle East conflict, given 75% of production depends on imported alumina and bauxite.

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The Strait of Hormuz remains closed, but Iran has responded to a US offer to resume talks. US jobs figures were solid, leaving the Fed on hold as new Chair Kevin Warsh arrives. And China’s exports surge in April.

In our deep-dive interview, ANZ’s Chief Economist for Greater China, Raymond Yeung, looks in depth at a big improvement in profit margins in China so far this year.

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Oil prices fall on hopes for peace talks in the Middle East and stocks retreat from their record highs. Australia’s imports jump in March as data centre equipment and oil values rise. And the Aussie dollar is trading at its highest level since 2022.

In our deep-dive interview, ANZ Head of FX Research Mahjabeen Zaman explains why the International Monetary Fund may be taking notice of Yen intervention.

Before accessing this podcast, please read the disclaimer at ⁠https://www.anz.com/institutional/five-in-five-podcast/⁠