A review of things you need to know before you go home on Monday; more TD rate cuts, more DDoS attacks, less winter work, NZ bond rates not rising like peers, NZD stable, & more

Here are the key things you need to know before you leave work today.

MORTGAGE RATE CHANGES
No changes to report again today.

TERM DEPOSIT RATE CHANGES
Heartland have trimmed most term deposit rates, ending their two year 2% rate, but they did raise their three year rate, to 1.85%. Christian Savings are the only institution to change (lower) rates today.

UNDER ATTACK
New Zealand has been under a DDoS cyber attack today. That means some resources are not available for this update.

BE CAREFUL WHAT ATTACHMENTS YOU OPEN
CertNZ says a malware campaign which is being spread through attachments or links in emails is currently affecting New Zealanders. Once someone opens the attachments or links in the email, the malware gains access to their email account and can send emails out to their contact list to keep spreading the malware. Once a computer has been infected with this malware it can result in significant financial loss, or data loss through ransomware infections.

MATARIKI TO BECOME OFFICIAL
The Labour Party is promising a new mid-winter public holiday which will be Mondayised. It will become the 12th public holiday.

TRAILING REDUCTIONS
The net bank interest rate 'yield' on fixed rate residential mortgages fell to a record low 3.66% in July. This is down -62 bps in a year when the OCR fell -125 bps in that same period. The net bank interest rate 'yield' on business loans fell to just 3.32%, also a record low, and a fall of -106 bps. These 'yields' are weighted averages of all bank lending for either category, as published by the RBNZ in their B6 series.

AFTER SOME EASY MONEY
Listed retirement village operator Summerset Group announced today that it is offering up to NZ$150 mln in a seven year bond issue. They are just the latest in a rush to soak up bond money on offer from investors.

MORE CASES
There are four new cases of COVID-19 today, two detected at the border and two from the August Auckland cluster. All are in isolation. They bring the total to 118 active cases in the country, and an overall net recovery rate of 92%. There are only four people in hospital at this time.

EQUITY UPDATES
The NZX50 has started the week up about +0.2%. The ASX200 is flat in early afternoon trade. Shanghai has opened -0.2% lower in early trade. Hong Kong is up +0.2%, while Tokyo is is little-changed. The S&P500 futures market is still negative for their Wednesday (NZT) open, but a little less so than yesterday.

SWAP RATES UPDATE
Swap rates details are not yet available yet. If there are notable changes again today, we will update this item. The 90-day bank bill rate is unchanged at 0.30%. The Aussie Govt 10yr is up +7 bps at 0.97%. The China Govt 10yr is up +4 bps at 3.18%. But the NZ Govt 10yr yield is down -1 bp at 061%. The UST 10yr is up at 0.72% and has held there all day.

NZ DOLLAR HOLDS
The Kiwi dollar is marginally higher at 67.1 USc. Against the Aussie we are marginally softer at 92.1 AUc. Against the euro we are up fractionally to 56.7 euro cents. That all means our TWI-5 held at 70.

BITCOIN STAYS DOWN
The price of bitcoin is holding at US$10,239, holding at the level it fell to at the end of last week. The bitcoin price is charted in the currency set below.

This soil moisture chart is animated here.

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