Watch You Tube video here. Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news Finance Minister Bill English has signalled a tough budget for 2010, saying that now is the time to withdraw fiscal stimulus. The government faces an ugly budget situation and is now borrowing NZ$250 million a week. It faces a debt blowout without urgent action. Meanwhile, the Guardian has blown the whistle on New Zealand's 100% Pure image. The Guardian has highlighted our poor greenhouse performance and accused New Zealand of commercial greenwash and giving 2 fingers to the rest of the world. Meanwhile, a record US bond auction overnight was not hugely successful, Bloomberg reported. The bond yield was higher than expected and the bid/cover ratio was poor. Concerns remain about US money printing and a weak US dollar.
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