90 at 9: AA+ rating retained; Clash of the generations; Ford parts maker bankrupt

Bernard Hickey details the key news overnight in 90 seconds at 9am, including news Standard and Poor's has allowed New Zealand to retain its AA+ credit rating, but the realisation is settling in that this budget has set up a clash of the generations in 10 to 20 years time. Either the babyboomers retire later with less, or Generations X and Y pay with higher taxes. Meanwhile Ford's parts maker Visteon has filed for bankruptcy protection and the US Treasury bond market continued its selloff under a wave of new government debt issuance, pushing up long term interest rates globally.