A review of things you need to know before you sign off on Monday; TD rates both up and down, building cost pressures ease, where the new jobs are & aren't, NZGB bond activity stays very high, swaps and NZD stable, & more

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 RATE CHANGES
No changes to report today. But we have an analysis for market shares here. All current mortgage rates are here. And note, you can compare mortgage offers with our unique calculator that takes into account other costs and cashback incentives, here.

TERM DEPOSIT/SAVINGS RATE CHANGES
Kiwibank has trimmed TD rates for terms 2-4 years. SBS Bank has ended its 4.50% 'special' with their 1 year rate reverting to 3.90%. WBS has raised their one year rate to 4.20%. NBS has done the same to 4.55%. All updated term deposit rates less than 1 year are here, for 1-5 years, they are here.

RELIEF IN SIGHT
Falling diesel prices are flowing through to lower building costs. Builders are getting some relief as those lower diesel prices help stabilise rising construction costs according to QV's CostBuilder.

WHERE THE NEW JOBS ARE - CANTERBURY IN THE PUBLIC SECTOR
Stats NZ reported today that there were 2.35 million actual filled jobs in May, up +15,371 jobs (+0.7%) from May 2025. For those aged 35 and older, this is good news (+26,143 new jobs). For those younger than 35 it is not so good (-10,412 jobs). Those job gains were not in Auckland. Canterbury had a +7,647 jobs gain, Auckland a +3,399 gain, Waikato a +3,211 gain. The gains were largely in the public sector (+15,310) with minor contributions from the financial sector (+3,018). Jobs were lost in professional, scientific and technical services (-2,092).

NZX50 TURNS HIGHER
As at 3pm, the overall NZX50 index is up +0.4%, with a weekly rise of +0.8%. It is up +0.3% from six months ago. From a year ago it is now up +7.5%. Market heavyweight F&P Healthcare is up +2.0% so far today. NZX50 starts the week higher despite broad selling; Gentrack, a2 Milk, Mainfreight, and F&P Healthcare lead the gainers; Serko, Briscoes, Ryman, and Vista lead the decliners.

DEMAND STAYS ELEVATED
Turnover levels in the April/May/June period for NZGB bonds on secondary markets has stayed unusually high. Although last week wasn't a record (at $83 bln) the average weekly turnover for the last quarter has been $80 bln per week, easily topping earlier periods (apart from the unusual twist in December 2025). There aren't many markets here that can boast turnover of $80 bln per week.

JAPAN'S RETAIL UPSWING
Retail sales in Japan rose +5.3% in May from a year ago, rising from an upwardly revised +2.8% rise in April and higher than the expected +3.2% gain. It was also their strongest growth since November 2023. The strength was broad-based and especially in new car sales. Not driving this increase was fuel costs because they actually fell in the month.

SINGAPORE SURGE EXTENDS
The surge that started in March for Singapore's producer prices has only risen from there, coming in +26.8% higher than year-ago levels. This doesn't include fuel, but it does include chemicals (+29%) and machinery (+31%).

SWAP RATES LITTLE-CHANGED
Wholesale swap rates will likely be little-changed but on the firm side today. Keep an eye on our chart below which will record the final positions closer to 5pm. The 90 day bank bill rate was down -3 bps at 2.69% on Friday. Today, the Australian 10 year bond yield is up +2 bps at 4.75% from this morning. The China 10 year bond rate has fallen back -7 bps to 1.72%. The Japanese 10 year bond is up +5 bps at 2.65% today. The NZ Government 10 year bond rate is now at 4.39%, little-changed from this morning's open. (The RBNZ data is now 'prior day' with the Friday rate up +2 bps at 4.36%.) The UST 10yr yield is up +1 bp at 4.38%.

EQUITIES MOSTLY FIRMER
The local equity market is firmer from Friday, now up +0.4%. The ASX200 is up +0.2% so far. Tokyo has opened by retreating -0.7%. Hong Kong has risen +1.9% but Shanghai is only up +0.1% at its open today. Singapore is down -0.1%. Wall Street futures suggest the S&P500 will open tomorrow up +1.5%

OIL PRICES TURN UP
American oil prices are up +US$1 from this morning with the WTI benchmark now just on US$70/bbl, while the international Brent price is just on US$72.50/bbl after both sides traded retaliatory blows in the Persian Gulf region.

CARBON PRICE FIRM
There have been few trades today but the price has risen back by +$1 to $55/NZU. See our daily chart tracker of the NZU price for carbon, courtesy of emsTradepoint.

GOLD LOWER
In early Asian trade, gold is down -US$23/oz from this morning, now at US$4066/oz. Silver is unchanged at just over US$59/oz.

NZD MARGINALLY FIRMER
The Kiwi dollar has held from this morning against the USD, now just on 56.4 USc. Against the Aussie we are up +10 bps at 81.9 AUc. Against the euro we are up +10 bps at 49.6 euro cents. This all means the TWI-5 is now just under 60.4 and up +10 bps from this morning's open.

BITCOIN STABILISES
The bitcoin price is now at US$59,976 and up +0.8% from this morning. Volatility has been low at just on +/- 1.2%.

This soil moisture chart is animated here.

Keep abreast of upcoming events by following our Economic Calendar here ».