⛔️ Kiwi Sensibility to U.S. Equities

• Just leaving a quick reminder of NZD sensibility to risk. The session sees equities trading lower, S&P 500 down circa 1.0%, the FX space sees high-beta and yen extending losses to the dollar

• The kiwi has a 6mo track of high sensibility to equities in the U.S. (or simply put risk, but we're using the S&P 500 as a benchmark). Kiwi, NZD 6mo beta at 1.15, R^2 at 25%.