Record-low rates point to terrible growth even as stock prices soar

Sun, 16 Jun 2019

By Jenny Ruth June 17 (BusinessDesk) - At first glance, record-low wholesale interest rate markets and soaring stocks appear to be occupying different universes. In New Zealand, the five-year swap rate closed below 1.5 percent for the first time, ending last week at 1.48 percent, while the benchmark S&P/NZX 50 Index jumped 1.9 percent, taking its gains year-to-date to 16.2 percent. But New Zealand isn't alone. Effectively, markets here have been playing follow-the-leader, the United States' market, where the benchmark S&P500 Index has...

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