Bernard Hickey delivers the key news overnight in 90 seconds at 9am in association with ASB, including news the New Zealand dollar rose near to a 9 month high of 65.5 USc overnight as calmer stock markets encouraged investors to take more risk in risky currencies like the NZ dollar. The Dow was up 1% after Goldman Sachs forecast a stronger stock market and CIT, America's biggest lender focussed on small businesses, found a US$3 billion rescue package from bondholders at libor plus 1,000 bps. The US government refused to bail out CIT, which was deemed small enough to fail. Meanwhile New Zealand Treasury Secretary John Whitehead has delivered a major speech pushing for productivity changes in the public sector, where 250,000 people work. Also, an ASB survey shows rental property is most popular again for investors for the first time in a year.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.