Fonterra has cut its farmgate milk payout forecast for the new season by -5%, citing strong global supply and softer demand

Chris Trotter separates the Australian and New Zealand protest vote leaders, noting that Winston Peters simply doesn’t possess the repressed political rage of Pauline Hanson, or the ability to communicate it

Brian Easton says there is a strong case to be made that the Ministry of Foreign Affairs and Trade is the government agency that has contributed the most to New Zealand’s economic growth

China car exports flood global markets; helium access a new chokepoint; Japan PPI high & rising; eyes on yen; US data languid; freight rates rise again; UST 10yr at 4.56%; gold rises; oil holds on Strait closure; NZ$1 = 57.6 USc; TWI-5 = 61.5