25 November 2021 - RBNZ Rate Hike | Tower Result Global markets were higher overnight, with the US market (S&P 500 index +0.2%) eking out a small gain as the recent jump in bond yields took a breather. On the economic data front, US jobless claims for the prior week came in at 199,000, the lowest level in more than 50 years, although there were some special factors driving strength in the data.  This saw technology, energy, and real estate sectors lead gains, the former partially recovering from early losses, while materials and consumer staples were the laggards. European Markets (Stoxx 600 index +0.1%) closed a touch higher as investors weighed up strong economic data against surging covid cases. Closer to home, the RBNZ announced it raised the OCR by +25 basis points to 0.75%, with their guidance suggesting a more dovish tone than the market had anticipated (but much more hawkish than during their August commentary)....