Retailers in the U.S. struggled to increase sales in February as a second month of frigid temperatures and snowstorms kept many Americans closer to home, economists predict a Commerce Department report will show.
National Australia Bank Ltd. raised A$750 million ($671 million) with its first domestic covered bond sale since a 2011 law change allowing Australian lenders to sell the collateral-supported securities.
Record payments to dairy farmers and a China-led trade turnaround added to evidence New Zealand will outpace developed-world peers this year, cementing bets the central bank will raise interest rates in two weeks.
Industrial & Commercial Bank of China Ltd., the country’s largest lender, is marketing its first U.S. dollar-denominated bond since the near-default of a trust as yield premiums in Asia reach a two-month low.
Australia’s dollar fell, paring its first five-day gain in three weeks, while the New Zealand kiwi slid after the central bank governor said the currency’s level is a headwind for growth and unsustainable in the long run.