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Canada attacked; SEC rule not tough enough; price rises modest; Australia in tough position in FTA talks; UST 10yr yields rise, oil and gold fall; NZ$1 = US$0.794, TWI = 77.2

Canada attacked; SEC rule not tough enough; price rises modest; Australia in tough position in FTA talks; UST 10yr yields rise, oil and gold fall; NZ$1 = US$0.794, TWI = 77.2

Here's my summary of the key news overnight in 90 seconds at 9 am, including news of a serious shooting incident in Canada's parliament buildings in Ottawa.

In business news, American securities regulators adopted a rule earlier today designed to avert another financial crisis, but two officials dissented (and here), saying it did not do enough to discourage banks from lending to borrowers with dodgy credit and then passing the mortgage risk to investors.

US consumer prices rose +1.7% year-on-year to September which was fractionally more than was expected but about the same as for August. A rise in food and housing costs offset a decline in energy prices.

More impressive however was the rise last week of American mortgage applications. They rose almost 12% in a week. It was refinancing that drove these results, up +23% in a week. These are the strongest levels since early 2013.

It is looking like only about 20 countries have signed up for China's big new infrastructure bank, the AIIB. US lobbying against it has been stiff. China has given Australia a 48 hour ultimatum to sign, putting them in a difficult position in the middle of their FTA negotiations.

In Australia, consumer prices were reported +2.3% pa higher in the September quarter, as rises in the cost of fruit, houses, property rates, and vehicle charges were offset by falls in electricity and petrol. That was down sharply from the +3.0% pa in the June quarter, due in large part to the removal of their carbon taxes following their election.

New Zealand's CPI data is due out later this morning.

Stocks are in losing territory in mid afternoon trade in New York. In Europe, stocks are higher in a small rally driven by an expected ECB bond buying program.

UST 10yr yields are up slightly again to 2.23%.

The oil price has fallen overnight and is now under US$81/barrel with the Brent price now under US$85/barrel.

The gold price is also down, now at US$1,244/oz, unable to maintain its recent gains.

We start today with our currency just a little lower. The NZD is at 79.4 USc, at 90.4 AUc, and the TWI is at 77.2.

If you want to catch up with all the changes on Friday we have an update here.

The easiest place to stay up with today's event risk is by following our Economic Calendar here »

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24 Comments

In all the sites I have visited I have never come across a more intrusive and annoying advertisment as the Telecom one on this site.

 

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...get with the programme..its SPARK.  Yeah the need to resize the screen is a pain..

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or "SPLAT"  after the logo and the pointlessness of using such a tacky brandname

(20yrs ago power compaines went away from "spark","lightning","zap" and lighting or spark related brand identities/logos because public perception had negative connotations to things like electrical sparks and shocks.)   Which is why you don't see old "Reddy Kilowatt" with his lightning bolts any more.

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... is it just me , or do others agree that SPARK's logo looks very similar to a cat's third eye ...

 

You know , the one that winks at you as they leave the room ....

 

... which is weird really , 'cos our encounters with SPARK have always left us thinking of the other end of a different kind of animal .... a dog's breakfast ...

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Until they change the branding on every manhole cover in the country I will call them Telecom.  If they insist on changing the brand to a scribble, they can at least do it properly

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Indeed David, I do hope they are paying you well for the advert.

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A word to the wise, again:

Adblock+

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SPARK spelt backwards = KRAP (S)

 

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Yes as OMG says, Adblock does the trick. When I first started using it when the add changed it would show up again, so you would have to report the add. Now they seem onto it and I haven't had to report one for ages. Kudos to them, I must send a donation.

 

If I didn't have adblock then the intrusiveness of the adds is that bad I probably wouldn't bother coming here.

 

Just a reminder also that Telecom stole the brandname Spark from the Auckland School of Business, who were silly enough not to trademark it.

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It is hard for us to respect users who want to free-ride. You get our content for free, content that is built by a team that takes pride in building useful and largely original content for readers on a free platform. Without the ad revenue this site would not exist. We don't clip the ticket on products sold here so as to remain fiercely independent of the advertisers. If you don't want to see ads, go to sites that don't offer ads. Better yet, start your own news service (without ads, or by subscription). Apparently it is easy. Blocking ads is an insult to those who allow this service to be here and free to readers. But I suppose there are many disrespectful folks out there who don't give a toss. Fee free to get all your news from state broadcasters. Hopefully the taxpayer will appreciate your free-rider attitude. All take. All selfish.

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David I accept the need for advertising, it is the intrusiveness of them that is insulting to your readers.

 

But you can also get off your high horse, writing is a form of unearned income.

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True David.  Very hard to respect users who want a free ride.   How much are you going to start paying your audience?  

Afterall it is the viewers by which your advertising income is created...

And you know what...yes I'll take you up on that "go to sites without ads". good bye

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"writing is a form of unearned income"

 

Oooh DC, consider yerself Told Orff....

 

But be of Good Cheer.  It's the Friday before a Long Weekend.>

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David it may be more useful for you to know that I never used an adblocker until the big bright adds appeared on interest.co. They were so bloody distracting I couldn't read the articles so went looking for a solution.

 

Remember the words of Aristotle also, that merchanting is a parasite on production and finance a parasite on merchanting. Interest.co.nz rides on the coat tails of finance.

 

Perhaps you could see this site as the pick of a bad bunch, but I am still grateful for the occasonal good article and the discussion forum. Hopefully you and Cowboy can keep your toys in the cot :-)

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... cheer up David , we're contributing our time and love for the website by blogging !

 

Friday Funny Time ( where are you Count , you're best at this ! ) :

 

... an Aussie guy suspects his wife is having an affair , so he calls up the late night radio chat show .... as you do .... " mate , she's been going out late , coming home in the wee small hours , her hair all mussed up , lipstick messed ... and sometimes can't find her panties " ....

 

" So I thought , best get some proof of her infidelity... so one night I hid out in the garage , behind the boat ... and as I waited , I noticed one of the two metal brackets holding the outboard motor onto the boat had broken .... next thing , there's a flash of lights , and a strange car comes up the drive ... the missus gets out , she's swaying , very drunk , and she pulls her knickers out of her purse and slips them on .... then she staggers into the house .. "

 

.... " .... now , my question is , do you think I can weld up the bracket or will I have to buy a new one ? "

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A little close too home...maybe, but I received this ironic based connumdrum.....this Friday...Gummy.

 

   

What's the difference between cigarettes and mass religious based murderers?

You can only bring 200 cigarettes into the UK/USA/CANADA/ before the authorities start asking questions.

 

Not funny, but true...I wonder what the limit is here.

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Condoms are no longer a guarantee of " safe sex " .... a friend of mine was wearing one when he was shot dead by the woman's husband ...

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I have no issue with adverts until they keep "slamming into your face"  Then they I suspect become counter-productive.

regards

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When I was working retail sales at Computer Xpress, we took the monitors to repair to another local electronics specilaist.  I knew them from before I started work at CX so I was taking my boss (the owner of the CX franchise) to introduce him and see if they could work together.
  He took one look at their store a made a sigh and quick grimace.

So being the good salesperson I was I asked him what he saw.  He said "oh, nothing"

I says, "Seriously I want to know.  You are obviously seeing something that means something to you that I'm not seeing.  And since business owners like you are going to be my customers that I have to sell to, I really do want to know what you're seeing when you look at their workplace."    

I said it's well presented, reasonably professional, a few parking spots. They obviously doing ok, so it shows they're good at what they do.

his reply was, the place is well kept, and quite spacious.  The paint job is quite well done and decorative (was pictures of plugs etc, not just flat colour) and recent.  The building is good square footage, with good space for staff, workbenches and multiple projects.  And their staff obviously appear to be very skilled.   And I have to pay for all that, out of my margin.

What might look like a great ad or promotion from one persons view is frequently the exact opposite from the other side of the fence.  David and his advertisers might think they're providing a valuable service and flash looking professional ads. 
 But not to me.  This site is a time and motivation killer for me, it chews bandwidth the flashing moving ads are annoying and distracting, making concentration on the important topics difficult,  Especially the one in the middle of the text that disappears and forces the text to scroll that actually hurts my eyes.

most of the ads are poorly targetted, and I doubt I'm the target demographic for their graphic designers (like my monitor repair friends).  I also doubt many people here are the demographic for that style advert.   And if the content on the site is many adverts, and the adverts aren't content that is of value to me, then I will go elsewhere.... especially as...

David seems to have forgotten what he's selling.
 A capital crime for _this_ audience (I hope!)

Same as Fonterra, and the Government.  Easy to do when you're an employee in the system, as having not-employee priorities is difficult from that perspective.

You're providing a product - as a dairy farmer I actually do have to be nice to the cows.  As a manufacturer I do actually have to cultivate _very_ good relationships with my suppliers.  And government ...well if you want an economy to survive, you have to seed it.   In property investor terms this is known as "You make you profit when you buy".    This is because a bad investment can never be turned into a good investment, at best it can be a hard work margin return.   You stick nasty ads on here... you'll get the demographic that fits that content, and all those well heeled decision makers and investment people will find someone else who is willing to court them.
 And when you've only got low class supplies to sell to your advertisers, then your business is going to follow.   

If David, and others around here don't know this... then I'm in the wrong room.

 

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China's coal use down?

Adding to the data on another recession, less chinese coal use.

"The amount of coal burned in the first three-quarters of 2014 was 1-2% lower than a year earlier, according to Greenpeace energy analysts in China. The drop contrasts sharply with the 5-10% annual growth rates seen since the early years of the century."

http://www.theguardian.com/environment/2014/oct/22/chinas-coal-use-fall…

hmmm.

regards

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BTW,  I have asked http://oil-price.net/ to put up the dubai price as well as WTI and Brent, they have said they will.

regards

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Thank you. Although there seems to be a 1 day delay in what they show?

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You can easily talk to them about their method if you wish. 

http://oil-price.net/contact.php?lang=en

Since I am not interested in the exact price second to second, but the trend over months and years a wee "error" does not matter for my need.

regards

 

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I hope the aussi's get used to that attitude in their "FTA"

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