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Bonds

S&P reduces Kiwibank's rating outlook

Updated
S&P says 1 in 3 chance it will cut in Kiwibank's A+ rating in next 3 years as NZ's economic risks rise; NZ Post says disappointed with rating move; S&P also eyeing how supportive NZ Govt is of struggling NZ Post

NZ inflation forecast above mid-point

RBNZ survey of inflation expectations shows slight easing in 2-year-ahead expectations from 2.17% to 2.06%

Kiwibank's capital buffers may prove 'too thin'

Kiwibank credit rating affirmed at AA but Fitch cautions on increasing competition & weaker capital position than rivals against backdrop of 'rapidly rising' house prices

Key sees haircuts for Solid Energy's banks

PM Key downbeat on 'broken' Solid Energy's future after KordaMentha report arrives; says it probably has no equity and he expects banks will have to take haircuts on NZ$389 mln of debt

NZ$ at 6-month low against US$

US$ stronger in response to US consumer sentiment hitting 6-year high; NZ$/US$ cross rate down 2.5% last week

RBNZ goes with banks' 'preferred' LVR cap approach

RBNZ chooses 'speed limits' to contain banks' high LVR loans rather than outright caps on high LVR lending; Says it has no mandate to improve housing affordability

NZ Govt Bond tender number 494 results

Latest bond tender of NZ$120 mln received bids for NZ$480 mln with 10 year bonds yielding an average of 3.3583%

'Budget highlights reliance on foreign savings'

Updated
Fitch says Budget encouraging; Moody's says it highlights NZ's main vulnerability being reliance on external saving to fund investment;  Labour labels it a ‘blackjack’ Budget

Small budget surplus in 2014/15

NZ Govt forecasts NZ$75 mln surplus in 2014/15; Macro-prudential tools deal signed; NZSF contributions delayed 2 yrs; Central govt may directly issue housing consents

Purse strings loosened in Budget 2013

Bill English set to deliver budget with around NZ$800 million of discretionary net new spending as firmer economy gives Govt more leeway 18 mths before election; Meridian float?

NZ bond and swap yields on the rise

The market pricing in 70% chance of 25bps hike from RBNZ in 12-months time