US stocks jump on tech earnings, but a new US manufacturing survey points to rising chances of a US recession. The Bank of Japan holds dovishly, which drives the yen down. Australia’s exports jump in March pre-tariffs, while Korea’s exports fall in April.

In our bonus Deep Dive interview ANZ New Zealand Chief Economist Sharon Zollner looks at the prospects of lower business confidence feeding into the Reserve Bank of New Zealand’s rate cut projections.

Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/