What happened Tuesday

Economy / news

A review of things you need to know before you sign off on Tuesday; Kiwibank cuts a key rate, jobs market stable, NZ Post eyes reduced service, Fonterra to tap bond market, swaps little-changed, NZD stays low, & more

29th Oct 24, 3:59pm by David Chaston

Here are the key things you need to know before you leave work today (or if you work from home, before you shutdown your laptop).

MORTGAGE/LOAN RATE CHANGES
Kiwibank and Heartland Bank cut fixed rates today. Details here. Heretaunga Building Society did too. All rates are here.

MORTGAGE TEST RATES FALLING
ASB and BNZ follow lead of New Zealand’s other major banks, cutting mortgage serviceability test rates.

TERM DEPOSIT/SAVINGS RATE CHANGES
Heretaunga Building Society trimmed rates today. All updated rates less than 1 year are here, for 1-5 years, they are here.

STABLE JOBS MARKET, OR IS IT?
StatsNZ released its monthly employment indicators today. They are based in income tax data filed by employers, so a comprehensive record of the number of people in work. These figures show that there's been no monthly jobs growth in any of the past six months - while the construction sector in particular is contracting substantially. Westpac's Michel Gordon says: "The Monthly Employment Indicator showed that the number of filled jobs was about flat in September. While that was slightly better than our expectation of a -0.2% fall, we note that this measure tends to be revised down for a few months after its initial release."

STABLE BUT A RECORD HIGH
For those who follow this, the RBNZ's currency intervention capacity (F5) held at $22.6 bln at the end of September and has been at this general level for three months now. Having noted that, we should also note its at an all-time high, despite the only-minor change.

MANAGING DECLINE
As snail-mail volumes atrophy, MBIE is readying revisions to NZ Post's service obligations. Five changes are proposed: 1. Reducing minimum delivery frequency from minimum three days per week in urban areas, to two days per week and minimum five days per week in rural areas, to three days per week, 2. reducing the minimum number of postal outlets from 880 to 500. Considering a glide down to a minimum of 400 over time, 3. providing for NZ Post to meet its requirement to extend its network in the form of delivering to cluster and community boxes for new addresses, 4. allowing NZ Post to convert existing delivery points into communal points at a rate of up to five percent per year, and 5. instead of a five-year period before the next Deed Review, suggesting the next Review be in three years. Including the option for an earlier Review for example if annual mail volumes fall below 120 million.

NZX EQUITY MARKET UPDATE
Check out our quick update of how the NZX is faring today, as at 3pm. Serko traveling well, with Infratil & a2Milk. Tourism Holdings pulls back with Gentrack, Heartland drops further

FONTERRA LAUNCHES BIG BOND OFFER
Fonterra said it is offering up to $350,000,000 of unsubordinated, unsecured five year fixed rate bonds to institutional investors and to New Zealand retail investors. The offer opens today with an indicative margin range of 0.85 - 0.95% pa. The offer is expected to close on November 1, 2024. They will be listed and are expected to be assigned a long term credit rating of A- by S&P Global Ratings and A by Fitch Ratings.

LOWER FEES VIA A MAIN BANK
BNZ has launched Payap payments app with substantially lower merchant fees. Compatible with all major banks, and with low merchant fees, it promises a simpler, low-cost real time payments system linked to users' bank accounts.

22.2 MILLION COINS
The Reserve Bank has confirmed that the 10-cent coin will be the first circulating coin to feature the effigy of King Charles III in New Zealand, after announcing the effigy for NZ coins earlier this year. The central bank told interest.co.nz that a production order for 22.2 million coins had been placed for expected minting next year, although the RBNZ doesn’t know the exact minting date in 2025 yet. The first mintings of the other four NZ coin denominations with the new image are still likely to be in 2027, RBNZ Director of Money and Cash Ian Woolford said. Coins also don’t typically enter circulation until 2 years after production.

"SAME FISCAL DISCIPLINE"
Finance Minister Nicola Willis won’t say if the Reserve Bank’s high staff numbers will affect the central bank’s new five-year funding agreement with the Government next year. Interest.co.nz asked the Minister’s office last Thursday if Willis thought the 17.8% increase in staff numbers (+91 roles) at the Reserve Bank during the June-2024 year was justified and if it would impact the next five years of funding given the Government’s focus on slashing public expenditure. Willis said in a response on Friday that the RBNZ was “operationally independent” but would be subjected to the “same fiscal discipline as the rest of the public service” when she negotiated the bank’s new five-year funding agreement in the first half of next year.

SWAP RATES HOLD
Wholesale swap rates are probably little-changed. Our chart below will record the final positions. The 90 day bank bill rate is down -2 bps at 4.53%. The Australian 10 year bond yield is up +3 bps at 4.49%. The China 10 year bond rate is down -1 bp at 2.15%. The NZ Government 10 year bond rate is up +1 bp from Friday at 4.50% while the earlier RBNZ fix was at 4.47% and unchanged from Friday. The UST 10yr yield is now at 4.27% and down -2 bps from this morning. Their 2yr is up at 4.13%, so that curve is now positive by +14 bps.

EQUITIES MIXED & MINOR
The NZX50 is down -0.3% in late Tuesday trade. The ASX200 is up +0.4% in afternoon trade today. Tokyo has opened up +0.7%. Hong Kong is up +0.5% at its open. Shanghai is down -0.2%. Singapore is also down -0.2%. Wall Street closed its Monday trade with the S&P500 up +0.3%.

OIL STAYS DOWN
The oil price is little-changed from this morning at just on US$67.50/bbl in the US, and just on US$71.50/bbl for the international Brent price.

CARBON PRICE HOLDS
The carbon price marginally softer today at $62.50/NZU. There has been solid volumes traded. See our new daily chart tracker of the NZU price for carbon, courtesy of emsTradepoint.

GOLD FIRMISH
In early Asian trade, gold is up +US$8 from this morning, now at US$2751/oz.

NZD HOLDS
The Kiwi dollar is little-changed from this morning's open, still at 59.8 USc. Against the Aussie we are up +10 bps at 90.9 AUc. And against the euro we are little-changed at 55.3 euro cents. This all means the TWI-5 is still at 68.8.

BITCOIN UP AGAIN
The bitcoin price is up +1.7% from this morning's open, now at US$69,995. Volatility of the past 24 hours has been moderate at just under +/- 2.0%.

Daily exchange rates

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Source: RBNZ

Source: CoinDesk

Daily swap rates

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Source: NZFMA

This soil moisture chart is animated here.

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106 Comments

by kiwikidsnz | 29th Oct 24, 4:05pm 1730171145

How the government is moving to streamline building consents

https://www.rnz.co.nz/news/political/532218/watch-how-the-government-is…

by HouseMouse | 29th Oct 24, 4:32pm 1730172746

Couldn’t possibly end badly

by IT GUY | 29th Oct 24, 7:12pm 1730182362

why would a good builder take on a risk of bad building products and then have to prove that in court? none will have a bar of this

by Foxglove. | 29th Oct 24, 7:30pm 1730183427

Don’t know if you have come across it, and it may still be prevalent, but it was a stock smart arse answer of tradies of any type when asked for recompense for unsatisfactory work - “see you in court then.” Our extended family was faced with this over a EQ rebuild of a family home. The builder, right at the end, tabled around $30k additional costs for unspecified work and denied entry to the property until paid. Our family members had by then finalised their lease for their rental. Lawyers advice - by the time you unravel and argue out all the bits and pieces it will cost you more than $30k, you won’t get to court for a couple of years and the judge is likely to just say 50/50. It’s moments like those that you wish you were Bob Jones.

by WellingtonInvestor | 29th Oct 24, 5:03pm 1730174600

It is a crazy move from my experience to allow self certification. Councils pick up so many non complaint issues with builders work. Unless there is going to be a proper mandatory 10 year building guarantee scheme for consumers like their is in Australia, consumers could be far worse off. At least councils are currently there to take responsibility if they miss something in their inspections.

by Let me be Frank | 29th Oct 24, 5:13pm 1730175196

If councils have reduced revenue from consenting will rates have to rise to make up the shortfall?

by WellingtonInvestor | 29th Oct 24, 5:26pm 1730175975

Possibly. Although it should be only covering their costs including staff. So those staff will not be required and they won't require as much building. So the council staff numbers should be smaller as a result.

by ChrisOfNoFame | 29th Oct 24, 6:01pm 1730178098

No. The staff would move from one employer to another. But overall cost would be basically the same, or higher. Ratepayers may think there is a saving, but Councils - as I understand it - still carry the longer term risks - and these risks need to be covered, typically by their balance sheets or by insurance.

by rolande | 29th Oct 24, 6:44pm 1730180658

You might find that the costs charged don't even cover operating cost of staff etc., let alone any corporate overheads, which arguably they should include. Many council charges are cross-subsidised from general rates because they worry about affordability and public perception (rightly or wrongly)

by agnostium | 29th Oct 24, 7:11pm 1730182283

Correct and if they cap the private providers fees they will cut corners.

by nigelh | 29th Oct 24, 5:29pm 1730176165

I believe so and councils will jump at increasing rates at a level above the drop off in the loss of BC fees. BC fees are a profitable stream for Councils as they have always been looking to increase charges outside of rates. As BC fees don't affect most ratepayers the ratepayers show little or no concern for the fees.

by Let me be Frank | 29th Oct 24, 5:50pm 1730177408

Thats my take also....though I dont know if consenting is revenue positive or not (i suspect it is)

by ChrisOfNoFame | 29th Oct 24, 5:56pm 1730177784

"If councils have reduced revenue from consenting will rates have to rise to make up the shortfall?"

My understanding is yes. They'd still be on the hook for failures.

by Let me be Frank | 29th Oct 24, 6:15pm 1730178900

We dont know the (proposed) regime as yet...however I would be surprised if council were liable if they are not the consenting authority...that makes no sense whatsoever.

by Jbd | 29th Oct 24, 6:27pm 1730179632

Why would the council be on the hook, if they haven't certified or inspected?

by agnostium | 29th Oct 24, 7:12pm 1730182376

Because the public sector is always on the hook to bail out ratepayers when private companies disappear, it's the privatized model. Privatise the profits, socialise the costs.

by Let me be Frank | 29th Oct 24, 7:22pm 1730182955

The owners of 'leaky buildings' may dispute that the loses have been 'socialised'....my understanding is they have been either partially covered or ignored.

by agnostium | 29th Oct 24, 9:31pm 1730190688

Fair point.

by WellingtonInvestor | 30th Oct 24, 2:06am 1730207205

Don't council have insurance for this though?

That is why it needs a mandatory warranty scheme, which I understand Australia has. But IMO that is only going to add to the costs. If people think this is actually going to save money, they are dreaming.

Councils will also likely use this an opportunity to increase rates using the loss in revenue from consents as the reason.

The current system is not great, but at least it works ok for 90% of buildings.

by JimboJones | 29th Oct 24, 6:18pm 1730179127

It seems like a reasonable idea to me. Electricians self certify and seem to have a much higher standard than other trades. And as suggested, the consequences of getting it wrong need to be higher.

by sharetrader | 29th Oct 24, 7:27pm 1730183256

plumbers and electricians have a MUCH higher standard of regulation, training and can be prosecuted and lose their license to trade if they fail to follow the law, builders are not regulated or trained to that standard and how many stories have you seen about some builder going bust or not finishing a project because of flaws liquidating and starting a new company and just carrying on

Nelson electrician on trial after death of tradesman while working on kitchen rangehood - NZ Herald

Auckland plumber fuming over investigation that led to fine - NZ Herald

Unlicensed electrical and plumbing worker sentenced for dangerous work, fined | Electrical Workers Registration Board

Plumbers, Gasfitters, and Drainlayers Board

by WellingtonInvestor | 30th Oct 24, 2:08am 1730207312

I would dispute that TBH as someone who works in the building sector. Most are good but some aren't.

by kiwikidsnz | 29th Oct 24, 4:08pm 1730171315

“RBNZ...same fiscal discipline as the rest of the public service”

Well, that isn't reassuring.

https://croakingcassandra.com/2024/07/13/public-sector-bloat-reserve-ba…;

by Jonny.Foe | 29th Oct 24, 4:10pm 1730171432

Stable jobs over the last 6 months - while our working-age population (15-64) increased by an estimated 31,000 people. We lost 20,000 jobs over the last 12 months, while adding 62,000 to the working-age population. Indeed, the only thing holding jobs up is the non-market sector (health, education, public admin etc).

by lonewolfnz | 29th Oct 24, 4:15pm 1730171721

So BTC is now slightly higher than my selling price on 31 March (70k). (Not my altcoins though which are still mostly destroyed since then).

Think a Trump victory will easily get it to a new ATH. Maybe 80k. Harris victory though will cause serious dumping.

by ChrisOfNoFame | 29th Oct 24, 4:22pm 1730172166

Why would a Harris victory cause serious dumping?

by mfd | 29th Oct 24, 4:33pm 1730172800

I imagine Trump's diapers would get a workout, for a start.

by Baywatch | 29th Oct 24, 4:57pm 1730174247

Does Trump even own any Bitcoin?

by mfd | 29th Oct 24, 5:09pm 1730174948

I'd be surprised if he was even capable of logging into an internet bank account, let alone purchasing crypto. I think his son(s?) is quite into it though, but they may have learned from Dad never to put your own money into anything.

by Silvi | 29th Oct 24, 5:10pm 1730175042

Yes Trump has been into Bitcoin since he pal'd up with Elon.

by lonewolfnz | 29th Oct 24, 6:06pm 1730178397

Don't think so but he does own ETH (from his NFT sales lol)

by Baywatch | 29th Oct 24, 8:08pm 1730185681

That makes sense...such is the grifter

by J.C. | 29th Oct 24, 4:51pm 1730173899

So BTC is now slightly higher than my selling price on 31 March (70k)

Do what you gotta do and stick to your own strategy and decisions. Of course owning BTC can be about regrets. Going all in under USD5K is but a distant dream (well not that distant really - March 2020 was a good time for those with resolve). Sell if you have to - new car, house, whatever. But history shows the diamond hands are recommended. I might be tempted to release some at USD500k+.

Huge move in Iris Energy last night - +17%. Almost like the market sensed something was up. Now the stock is up 180% since Feb and quite possibly these are early days.

by Baywatch | 29th Oct 24, 5:13pm 1730175232

One stock I hold is up 507% this year JC...

by J.C. | 29th Oct 24, 5:22pm 1730175725

Stunning. Rat poison related?

by Baywatch | 29th Oct 24, 5:51pm 1730177470

yes...

by J.C. | 29th Oct 24, 6:15pm 1730178914

Share the dice. And check this out:

BTC in March: $71k

Coinbase app store ranking: 20

BTC now: $71k

Coinbase app store ranking: 482

Price is same but retail is non-existent.

by lonewolfnz | 29th Oct 24, 6:07pm 1730178429

I have a crypto based around AI agents that is up 2113% in 2 months. Not kidding.

by J.C. | 29th Oct 24, 6:14pm 1730178863

That's great Wolfie. Missed that boat. NEAR is as far as I got.

by Wrong John | 29th Oct 24, 4:33pm 1730172813

I see the Kiwi starts with a 5 these days. Heading to 4...?

by Let me be Frank | 29th Oct 24, 5:21pm 1730175705

we have started with a 3 before....but that was then and this is now.

by Caughtinthemiddle | 29th Oct 24, 4:41pm 1730173317

If Trump does get in I am fearful about the Ukraine situation (amongst many other things). Not so fussed if it alters BTC etc.

by WellingtonInvestor | 29th Oct 24, 4:45pm 1730173559

They thing I am most scared of is getting rid of him once he is in. The Democrats should have got Obama to run for the sake of the country. She just has so much presence and comes across like a president should, and think she would have won, even at short notice. But it all seems to come down to money.

by RookieInvestor | 29th Oct 24, 4:58pm 1730174308

my prediction is that trump will negotiate with putin to stop the war in ukraine, he has a better relationship with putin than biden does.

I had this opinion since the tucker carlson interview with putin.

And then if he does stop the War, people who dislike him will have to like him for something, and it will expose a lot, showing that the democrats are keeping the war going.

Id love to see kamala go to russia and negotiate with one of the most stern men in the world to stop a war.

by Uninterested | 29th Oct 24, 5:07pm 1730174866

"I grew up in a working class family...."

by mfd | 29th Oct 24, 5:11pm 1730175113

I imagine Trump would stop the war quite quickly, because he will crumble in negotiation with Putin and push for Ukraine to give away vast swathes of their country.

Then we can all enjoy peace, until Russia comes back to finish the job, or another country realises what a push over the West are and gobbles up their neighbour.

by RookieInvestor | 29th Oct 24, 5:19pm 1730175586

push for Ukraine to give away vast swathes of their country.

Isn't that Ukraines choice? to Cede their land or keep fighting?

by mfd | 29th Oct 24, 5:32pm 1730176324

Yes, but without the support of their friends and allies they don't have much hope against a larger opponent.

Welcome to the new world where might is right and every country has to dramatically bump up defense spending to ensure their independence. Goodbye to the peace dividend that resulted from a world order where aggression against a neighbour was generally not tolerated.

by RookieInvestor | 29th Oct 24, 5:39pm 1730176743

yes i agree, although i'm now sure how that pans out personally.

When i was in South Korea i saw something eye opening on a souvenir...

"Freedom is not Free"

by Te Kooti | 29th Oct 24, 6:16pm 1730179013

Our defence spending is only 1.7% of GDP and probably heading South. Who will bail us out?

Also, we are down a ship (lolz).

by redcows1 | 29th Oct 24, 6:25pm 1730179538

Been watching documentaries again RI

https://www.google.com/search?gs_ssp=eJzj4tFP1zcsNM0yS0kpNzJg9JIvSU3MVU…

by kiwikidsnz | 29th Oct 24, 6:29pm 1730179769

"You cannot reason with a Tiger when your head is in its mouth'. Churchill

by IT GUY | 29th Oct 24, 7:15pm 1730182513

Trump will hand this problem to the EU and Germany to fix, Germans can be as ruthless as necessary when pushed...

by nigelh | 29th Oct 24, 6:13pm 1730178832

Trump would have to tell Ukraine no more aid, military or indirect from the US and Ukraine would likely be forced cede as a minimum Crimea and probably even the annexed territories. This "deal" would be arranged by Trump who has no compunction to save Ukraine. Remember Trump's statetment to the effect. Zelensky is the only salesman to come to America and walk away with $60bill.

by HouseMouse | 29th Oct 24, 6:31pm 1730179919

Exactly right.

And without American help they will lose even more people, and territory, and be worse off.

by HouseMouse | 29th Oct 24, 6:30pm 1730179800

Yeah but the yanks will say ‘if you don’t play ball and agree to this peace plan, then we sure as hell won’t provide any more military aid’.

by Zwifter | 29th Oct 24, 6:29pm 1730179798

The war will be over pretty quickly when Trump stops giving Ukraine billions of dollars. Did you know that all the combined USA war donations to Ukraine and Israel nearly topped USD$1 Trillion dollars a year ?

by Retired-Poppy | 29th Oct 24, 7:15pm 1730182532

If this is not an unthought post then I don't know what is.

Do you seriously think Putin will happily just stop at Ukraine?

by IT GUY | 29th Oct 24, 7:20pm 1730182807

he could try Poland, they look like pussies

by Zwifter | 29th Oct 24, 7:21pm 1730182886

Keep on believing the fear factor RP, your whole life relies on it. Putin has no interest in the rest of Europe.

by Retired-Poppy | 29th Oct 24, 7:37pm 1730183870

Fear factor? Not bad coming from someone who posted here that lockdowns and border closures were imminent because of Monkeypox....

edit, Take the time to look at the alliances Putin is forging and then ask yourself why.

by powerdownkiwi | 29th Oct 24, 9:52pm 1730191951

Yes, he will pretty much stop there.

Nobody stops to see it from his/Russia's angle.

We are so skewed - but then you have to be, considering what we are guilty of.

by HouseMouse | 29th Oct 24, 10:24pm 1730193880

Agree

by Palmtree08 | 29th Oct 24, 11:01pm 1730196088

Ukraine got US gear due for the scrap heap. The money you talk about was spent on new gear for the US army and was spent on US wages.

by Foxglove. | 29th Oct 24, 5:38pm 1730176733

Don’t know that the three Baltic States, Poland, Finland and likely Rumania will see any concession Ukranian territory offering a secure pact for the cessation of hostilities. What Russia might get would be viewed by them as just a temporary pause. Reset, regather and restart when /where optimal. After all there is now a precedent that territory will always be gained by said strategy. The European nations beyond Ukraine will have to think hard about the long term, rather than the short term and consider whether or not they are going to confront Putin’s warmongering themselves rather than dipping into the American armoury as a matter of right. Trump very likely is about to close that door.

by kiwikidsnz | 29th Oct 24, 5:50pm 1730177408

"...a secure pact for the cessation of hostilities."

Because appeasement has worked so successfully in the past...oh, wait

by Foxglove. | 29th Oct 24, 6:06pm 1730178361

Aye, Churchill and the crocodiles again. Wouldn’t take much forethought to understand that Russia intends to reclaim the once empire of Peter the Great. There has been no shyness by Putin and his hierarchy in broadcasting that ambition. And it wouldn’t take much forethought either, to work out that if you want to prevent that, then it would be far preferable to base the prevention in Ukraine rather than waiting for Russia to cross your own border. Forewarned, forearmed, forestalled. Nothing else will do.

by nigelh | 29th Oct 24, 6:20pm 1730179226

Haven't you forgotten Nato and who and who doesn't belong to it. Russia has been seriously weakened by this war. It'll take the decades to recover and by then Putin will be gone. There'll be no appetite in Russia to take on whose next.

by Foxglove. | 29th Oct 24, 6:42pm 1730180559

Very true Russia has weakened itself drastically, economically, socially and militarily. And even before this outbreak the European NATO members between them had enough industrial and military power to outmuscle Russia. But the problem is not so much one of a case of face to face combat but more to what extremism the Russian leaders might resort if/when their whole damn shooting box begins to break apart Ceding Ukranian territory rather than actually confronting the beast would be nothing more than a fool’s errand, simply feeding fuel to the fire.

by agnostium | 29th Oct 24, 9:33pm 1730190835

The biggest risk with not resisting Ukraine is not the direct threat to NATO states, it is further erosion of the international norms on sovereignty. They are not perfect, and yes I know there has been many, many, black arts international interference over the years by major states, but a general adherence to these norms has held a modicum of 'peace'.

What Israel is doing to Gaza would not have happened had Russia not invaded Ukraine. The invasion has eroded international norms on what is acceptable state-led violence outside international boundaries. The US/UK eroded those norms when they invaded Iraq. The more they get eroded the more state on state open warfare risks escalating globally.

I recently read that the Anarcho-hippie commune of Christiania in Denmark has resorted to asking the police for help in dealing with criminal gangs abusing their permissive approach to drugs.

People constantly complain about the US being the international police force and abusing their power, it's a legitimate complaint. But there are three main benefits to us of the US performing that role:

US institutions and norms are more aligned with our institutional norms than any other potential police power

The US political structure is at least predicated on elections and offers the hope that those in power can be held to account. We may end up with a dictator like Trump but it would be an aberration and if this were Russia or China there would not even be the semblance of choice

Having the US as an agreed de facto policeman means everyone else doesn't need to impoverish themselves even further by tooling up to protect themselves from the international thugs

by Foxglove. | 29th Oct 24, 7:59pm 1730185180

Well said. The tentacles of aggression intertwine right across, and from continent to continent. For instance Putin’s bellicosity, justifying use of nuclear weaponry, in the case of a perceived existential threat, simply provides a precedent for Israel, in their conflict. The USA has in its history, ever since declaring war on Spain in the early 20th century with neither provocation nor justification, has unnecessarily made many rotten blunders and adventurism little more than ham fisted imperialism. But at the end of the day it’s something of a realistic question to ask yourself, would you prefer to live under the regimes respectively of say Washington DC/London or those of Moscow/Beijing.

by Yvil | 29th Oct 24, 8:27pm 1730186867

Great post agnostium.

by Palmtree08 | 29th Oct 24, 11:04pm 1730196264

A rare gem among some of the other nonsense written about the Russian genocide in Ukraine.

by Yvil | 29th Oct 24, 5:58pm 1730177920

"my prediction is that trump will negotiate with putin to stop the war in ukraine, he has a better relationship with putin than biden does"

Just like he stopped Kim Jong-Il to stop producing nuclear weapons, when he met with him? LOL. Trump is a joke. He's a selfish, petulant, ignorant, narcissistic little boy.

by agnostium | 29th Oct 24, 7:18pm 1730182700

100%

by Retired-Poppy | 29th Oct 24, 7:23pm 1730183035

He's a selfish, petulant, ignorant, narcissistic little boy

I happen to agree but you of all people posting it gave me the giggles....

by The Man3 | 29th Oct 24, 9:21pm 1730190074

And Harris isn’t a joke?

the workd is in deep trouble if there are enough to put her in!!

She couldnt run a tupperware party!

by Silvi | 29th Oct 24, 5:17pm 1730175459

Harris in early voting is getting over 40% of the vote in Red States. Iowa Harris 43% Trump 39%.

by ChrisOfNoFame | 29th Oct 24, 7:58pm 1730185081

Source?

Edit: Ah. You've looked at who has voted, not who they voted for, right?

by ChrisOfNoFame | 29th Oct 24, 7:56pm 1730184981

Don't be fooled by the US dominated analysis with regards Ukraine.

The Europeans have a huge say - bigger than the US - in what happens to Ukraine. Trump may have fooled many 'mericans about what he claims he can achieve - but like always - it's b.s. Only his cult is foolish enough to believe he can solve anything in Ukraine.

by Foxglove. | 29th Oct 24, 8:02pm 1730185357

Another - well said. I’m starting to get tickitis this evening.

by solardb | 29th Oct 24, 4:55pm 1730174103

I think they could ditch the 20c coin, the amount of times it's used could probably use 2 x 10c pieces.

by Zwifter | 29th Oct 24, 6:32pm 1730179966

They need to dump the 10c coin, you find them in the street nobody even bothers to pick them up anymore. Got a jar full of them, totally useless these days, just round all pricing to the nearest 20c

by IT GUY | 29th Oct 24, 8:00pm 1730185254

actually to enable innovation lets dive 1c into 10 smaller units and let people who can provide electronic services charge0.9c per transaction...

your idea wins "Dumbest idea of the day competition"

by J.C. | 29th Oct 24, 5:00pm 1730174414

In early Asian trade, gold is up +US$8 from this morning, now at US$2751/oz.

On the surface seems insignificant and doesn't do it justice. PMGOLD up 1.14% today and silver proxy EPTMAG on the ASX up 2.14%. Both quite solid moves.

Evolution Mining matching gold step for step and up a solid 42% in 2024. Larvotto Resources up a whopping 428.57%.

by Yvil | 29th Oct 24, 5:46pm 1730177176

the 10-cent coin will be the first circulating coin to feature the effigy of King Charles III in New Zealand.

Why not wait a bit and mint a new King William coin soon.

by tis i | 29th Oct 24, 6:06pm 1730178369

Why not get rid of it altogether.

by meh | 29th Oct 24, 11:44pm 1730198657

The monarchy or the coin?

by tis i | 30th Oct 24, 6:02am 1730221349

Nothing wrong with the 10c coin…

by Foxglove. | 29th Oct 24, 6:31pm 1730179867

Gauche, Yvil. Plain gauche. To belittle and make a premature dismissal of any living life, demonstrates very little soul in my book, at least.

by IT GUY | 29th Oct 24, 7:19pm 1730182761

type of lesson ginny needs to learn, little pos has no chance of a more senior role now

by Yvil | 29th Oct 24, 8:33pm 1730187185

"Gauche", which is obviously from the french meaning "left". I didn't know the meaning of this word in english. (clearly, you might add sarcastically)

by Foxglove. | 29th Oct 24, 9:08pm 1730189336

Yes perhaps, with thanks again to the French, maladroit would have been the better adjective.

by Yvil | 29th Oct 24, 10:03pm 1730192614

Oui, en effet.

by ChrisOfNoFame | 29th Oct 24, 7:29pm 1730183377

Not what wanna be property 'investors' want to hear.

Rents fall to eight-month low, but still higher than last year ... (btw, just 1.6% higher than this time last year)

Take care.

by IT GUY | 29th Oct 24, 8:16pm 1730186164

and most want capital gains for poop investors

oh dear

how sad

never mind

by Toye | 29th Oct 24, 9:54pm 1730192055

Falling quite sharply since May in Auckland.

by HouseMouse | 29th Oct 24, 10:29pm 1730194146

Massive townhouse supply

by Retired-Poppy | 29th Oct 24, 7:55pm 1730184927

Homeowners who bought recently being declined for loans to buy investment properties because of no equity. Those with little equity offered smaller loans so they can upgrade existing features here

Banks just luuuuve those naive debt junkies don't they?

by IT GUY | 29th Oct 24, 8:02pm 1730185355

cannot remember what they get paid? really

by ChrisOfNoFame | 29th Oct 24, 8:25pm 1730186704

The maths here is pertinent.

Most houses are bought by owner occupiers. But these OOs are locked out of the market, as are many other recent buyers. It's going to be a slow grind back.

by Retired-Poppy | 29th Oct 24, 8:49pm 1730188191

It's going to be slow grind back.

Spot on. That's why it's hard to build an earth based case that house prices are about to imminently rise faster than ones ability to save the required deposit and therefore FHB's should hurry. Aside from OO's, those with existing portfolios have had their losses amplified.

by The Man3 | 29th Oct 24, 9:25pm 1730190350

Depends where your property is situated, Poppy.

I can confirm that ChCh prices havent dropped at all.

The oodles of townhouses that have been built, being 2 bedroom and very small has distorted things hugely.

There have been plenty of opportunities to buy and sell for many people!

by IT GUY | 29th Oct 24, 9:46pm 1730191580

^{I can confirm that ChCh prices havent dropped at all.}

^{And that is why people pay for your opinion...... because you give it away for free.}

by IT GUY | 29th Oct 24, 9:20pm 1730190010

Priceless third world reality, f en funny

Echeverry said there were 40 rooms spread over two floors, but she has put Cop16 delegates on one corridor because noise comes from rooms “all the time” when they are in use.

“We guarantee good rest for our delegates,” she said.

https://www.theguardian.com/environment/2024/oct/29/some-unique-feature…

by tis i | 30th Oct 24, 6:01am 1730221307

Next level coke ‘n’ hookers