(Bloomberg) --

Good morning and happy Friday, it’s Ainsley here and this is what you need to know to get your morning rolling.

Paradise Found: Travel to New Zealand now and you’ll practically have the place to yourself. The country is preparing to throw open its borders to international visitors on May 2 after more than two years. Places like Milford Sound, an otherworldly corner of the South Island, will most likely be devoid of massive crowds through the upcoming winter season. And the government has plans to move away from the mass tourism that trampled New Zealand’s pristine landscapes before the pandemic.

Bond Attraction: Australian government bonds look attractive to longer-term investors as markets are going too far in pricing in rapid interest-rate hikes for the central bank. That’s according to Sally Auld, chief investment officer at JBWere, who says the securities are ripe for a rebound because global central banks will succeed in slowing growth to curb inflation.

Solomon Denial: China denied reports that it plans to build a naval base in the Solomon Islands, with a Defense Ministry spokesman yesterday calling them “fake news.” PM Scott Morrison this week said a Chinese military base there would be a “red line” for his government.

South Pacific Battle: The murky defense pact between the Solomons and Beijing shows how complacency threatens U.S. and Australian naval dominance, James Stavridis writes in Bloomberg Opinion. At the heart of the problem is a sense that the U.S. and Australia simply relied on history to keep the Solomons close. China played a better hand, and will use its economic might to win over additional small Pacific nations.

In the Markets: Earnings continued to whipsaw U.S. stocks, as the biggest rally in seven weeks fizzled in late trading. The S&P 500 surged more than 2% in the cash session for its best day since March 9, while the Nasdaq 100’s advance topped 3%.

What Happened Overnight

Not so Amazin’: Amazon plummeted after its forecast for the current period fell several billion dollars short. It also reported an unexpected first-quarter EPS loss as wage and fuel inflation took their toll. Shares dropped more than 10% in after-hours trading and it also dragged down Shopify and Wayfair.

Apple Did Better: Only slightly better news from Apple. Revenue beat at $97.3 billion — its biggest non-holiday quarter ever — but it warned that supply constraints will cost it up to $8 billion in the current period. Shares slipped in after-hours trading.

Goldman Crypto: Goldman Sachs offered its first-ever lending facility backed by Bitcoin, in a significant step for a major U.S. bank that accelerates Wall Street’s embrace of cryptocurrencies.

Ukraine Latest: Joe Biden asked Congress to provide $33 billion for military, economic and humanitarian aid to Ukraine. Kyiv was hit by two missiles strikes, its mayor said, on the same day UN Secretary General Antonio Guterres is set to meet Volodymyr Zelenskiy.

What to Watch

  • Australian PPI and private sector credit data are due
  • Origin Energy and Reliance Worldwide are scheduled will release quarterly reports

One More Thing…

Selfie Upgrade: Gone are the days of taking your own selfies. Snap's selling a yellow, square-shaped flying camera drone called Pixy that costs $230 and weighs about a quarter of a pound. It's designed to hover around you while capturing photos and video before landing back in your hand autonomously.

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