Bernard Hickey details the key news overnight in 90 seconds at 9 am in association with ASB, includingnews that the government is expected to announce a shakeup for the electricity industry later today that could include power companies paying customers to use less power.
Meanwhile, there was astrong auction overnight for US Treasury bonds, easing the fears of some worried the US government may not be able to finance its massive deficit. There were record bids from central banks for US$37 bln worth of 3 year bonds which drove the price up and the yield down more than expected. Meanwhile the US Federal Reserve Open Market Committee meets this week to decide on interest rates. It is expected to leave rates on hold but may expand money printing.
Meanwhile, China's economy may be cooling after bank lending there fell 77% in a month, theFT reported.
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