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Joyce may cut export share target

In wake of dairy price slump, Economic Development Minister says Govt may reduce target of lifting exports to 40% of GDP by 2025, citing shifting statistics

What happened today

A review of things you need to know before you go home on Thursday; BNZ cuts rates, banks withdraw cashbacks, inflation linker bond yields rise; UOM interest rates rise, wholesale rates flatten

Inflation Indexed Bond tender number 538 results

September 2035 Government inflation linked tender reasonably well bid; weighted accepted average yield 1.87% (previously 1.79%)

More leniency from the RBNZ?

The dairy auction and US data should see lower NZ yields and flatter curve today. Sharp rise in yields expected if the RBA doesn't cut on Tuesday

90 seconds at 9am: Dairy prices slump

US factories regain momentum; job growth questions; AU banks resist capital requirements; dairy prices fall hard; oil and gold up; bond yields lower; NZ$1 = 74.7 US¢, TWI = 79.8

What happened Wednesday

A review of things you need to know before you go home on Wednesday; Deposit rate cuts, house values rise, China's manufacturing expands, Solid Energy intrigue, April fools & more

HomeStart 'could boost developer profits'

RBNZ warned Government that HomeStart subsidy for first home buyers could boost developer margins and pump up already over-valued house prices

Bernard's Top 10

Super Winstons everywhere; Drone sheep dogs; Huzzah for working pensioners; Faces of inequality; Cephlapod ahoy; Clarke and Dawe; Dilbert

NZ suffers contagion from Aussie pressure

NZ-AU 2-year swap spreads close to their highest levels in almost 8 years. Much of the RBA-RBNZ different approaches now priced in

90 seconds at 9 am: Pressure on central banks

US consumer confidence rising; Greece's plan rejected, looks to Russia; China gets deposit insurance; RBA pressured to cut; bonds, oil and gold unchanged; NZ$1 = 74.7 US¢, TWI = 80

Bonds charts