National Business Review
October 2026
Bond yields fly, Firmus IPO dies, sentiment sighs
Stocks on Wall Street ended their latest run in record territory earlier in the week as investors were once again forced to pay attention to soaring bond yields, with the US 10-year Treasury touching 5.36%
There’s not unlimited demand for these things,
Firmus float under pressure as sentiment turns
The pricing of the planned A$43 billion ($53b) ASX listing of neo-cloud company Firmus is set to be revised lower amid speculation that the IPO could be pulled due to a lack of investor interest
Investors on countdown to A$7.7b Firmus IPO
The coming float of ‘neocloud’ company Firmus is the biggest IPO to hit the ASX in decades, but it is also shaping as one of the most controversial
Economic takeaways from the Trump/Xi summit...
Last week’s meeting of the leaders of the world’s two largest economies in Washington DC was short on substance but was nevertheless celebrated by both sides as confirming a relationship of ‘constructive strategic stability’ between the US and China
September 2026
Scale and synergy: Heartland shareholders approve TSB merger
Labour and Greens promise to release their fiscal plans soon
Speirs Finance sees ‘encouraging’ signs after April plunge
Why US bond yields hit two-decade high
Multi-year bond yields have soared as oil prices remain volatile and market watchers anticipate further US Federal Reserve hikes
Labour’s plan to invest in infrastructure and jobs
The Labour Party is promising to spend more on building social houses as well as on school and hospital maintenance to help boost employment
Canada incites US/EU squabble, Fed confirms hawkish flight plan
EU happy to make Canada an associate member, as the northern nation looks for avenues to diversify its trade away from the US
Nats’ supermarket scheme harder than it looks
National communists, FMA search, Waititi spotlight, SFO's 'F' you
Toyota NZ eclipses $2b in sales, new vehicle sales up 10%
More workforce casualisation likely from law reform, union says
Oil prices, bond yields stoke more inflation fears
Resurgent oil prices and rising bond yields triggered a risk-off investment environment in global markets this week
Labour proposes to establish an office of artificial intelligence
The party has released its AI policy which aims to protect small businesses and community organisations from digital harm
Markets brace for all-important US inflation data
Bond sell-off eases as markets weigh rate risks
It’s the reason why bond yields are going up that matters for equity markets,
FMA confirms Barrass has left regulator with immediate effect
Builders’ mood shifts on economic concerns, red tape
A cumbersome build consent system has again been highlighted by industry participants as being at the heart of delays and high costs
Rush hikes and risk undermining fragile recovery, economists say
August 2026
North American trade spats, Winton’s emptier boardroom
US sanctions on Iran and its trading partners generally elevated concerns as to impacts on already fragile supply chains and initially led to higher oil prices and long end yields early in the week
That’s a massive overhang and plays into the higher rate trend, for longer,