5 in 5 with ANZ

Monday: Markets coping with geopolitical turmoil

Geopolitical turmoil features in our first podcast of 2026, although markets are relatively relaxed. We also look ahead to big decisions at the Fed and the US Supreme Court, and look back to China inflation data and a record low for the Philippines Peso. In our Deep-Dive interview, I talked with ANZ Group Chief Economist Richard Yetsenga about why financial markets are sanguine so far about the geopolitical turmoil over the last fortnight. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Wednesday: US jobs market weakens

US jobs data is weaker than expected in November. Australian consumer confidence ends the year lower than it started. And New Zealand’s Government adds another year of deficits to its forecasts. In our Deep-Dive interview, ahead of the Australian Government’s Mid-year Economic and Fiscal Outlook today ANZ Senior Rates Strategist Jack Chambers explains what to look out for in the new fiscal and bond programme forecasts. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Tuesday: Fed on hold, as is RBNZ

The Fed signals it’s on hold for the next month at least. China’s economy slows markedly. And the Reserve Bank of New Zealand’s new Governor unexpectedly tells markets not to bet so hard on rate hikes soon. In our Deep-Dive interview, ANZ Senior Commodities Strategist Daniel Hynes has analysed the potential effects on the global oil market of a possible peace deal between Ukraine and Russia, no deal with the status quo, or no deal with much tougher sanctions. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Monday: Fed Presidents divided on more cuts

The Fed is divided about more rate cuts going into a new year with a new Chair. India’s underlying inflation decelerates. And New Zealand’s manufacturing sector expands slightly faster. In our Deep-Dive interview, ANZ Greater China Economist Vicky Xiao Zhou analyses the results of last week’s Central Economic Work Conference (CEWC) statement after a key Politburo meeting. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Friday: Soft signs in Australian jobs market

Markets relax after the Fed cut rates, seeing two more cuts next year. Australia’s unemployment rate holds, but a drop in jobs suggests softness. And New Zealand growth expectations get a boost. In our Deep-Dive interview, ANZ Head of FX Research Mahjabeen Zaman previews some of the more interesting drivers of FX markets in 2026. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/