90 seconds at 9 am with BNZ

90 seconds at 9 am with BNZ: Dow, NZ$ strong after US sales beat forecasts, but eyes on US jobs tonight ; ECB extends emergency loans

3rd Sep 10, 8:53am by Bernard Hickey

Bernard Hickey details the key news overnight in 90 seconds at 9 am in association with BNZ, including news that US retail sales were stronger than expected after 'Back to School' discounts and the looming expiry of tax holidays boosted consumer spending.

The Dow closed up 50.6 points as investors felt more confident about the economic outlook, boosting the 'riskier' currencies such as the New Zealand dollar, which rose to 71.6 USc.

Meanwhile, the European Central Bank held its official cash rate at 1%.

It also extended its emergency loan facility for European banks until next year.

The special loans are designed to help stressed European banks.

European Central Bank President Jean-Claude Trichet also said it was too early to declare victory in the Global Financial Crisis.

But markets remain pensive ahead of the release tonight of crucial non-farm payrolls figures for the United States, which will give a fresh view on the health of the world's largest economy.

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13 Comments

by muzza | 3rd Sep 10, 9:20am 1283462435

This seems like some good news. Where's Wolly?

by IOU | 3rd Sep 10, 10:31am 1283466689

it means we've all grown up and know better that believe mainstream sugar coated drivel!

by Rob of the North | 3rd Sep 10, 10:38am 1283467081

Wally/Wolly's probably sulking 'cos copper's price is up the highest it's been in 4 months..gotta know when to hold 'em , gotta know when to foldem' Wally!

by Wolly | 3rd Sep 10, 1:06pm 1283475980

Hey I'm happy Rob. How many are you holding?...oh none...OK!

by IOU | 3rd Sep 10, 10:38am 1283467112

Hey not sure if anyone's seen this but here's todays funny video:

Click here for vid! OBAMA-MAN-CAN

Who can fix the mortgage?

General Motors too;

a bailout check for me;

and a bailout check for you;

Obama Man can;

'cause he mixes it with Hope;

and makes the world taste good.

by powerdownkiwi | 3rd Sep 10, 11:14am 1283469242

Actually, I thought today's comment that we're the third most indebted country in the world, was more like it.

It's nothing to do with either optimism or pessimism.

Sooner or later the swallows come back to Capistrano.

And shit.

by Christov | 3rd Sep 10, 11:39am 1283470755

Yes Powder........... but Billy Bob has countered with a parry to wrong-foot the facts.

It's the IMF.................You've been a good boy in class award...!!

Have you not seen it ...?..it's been up on three threads in two days....... I'm concerned for

Bernard...........his company may have been infiltrated by Talking Heads.

by powerdownkiwi | 3rd Sep 10, 1:27pm 1283477279

Chuckle.

Yes, I heard. I thought it was a surprising coincidence that the IMF came out with that just after SCF. I also thought it interesting that the 'liable parent' and 'republic' things surfaced - both relatively non time-dependent items. Interesting to note Cullen involved.

All coincidence, of course. I'm just a conspira-whatsit-theor-thingummy.

There was some very careful orchestration, is my review of the score. Couplea' muffed notes in the cadenza,

The phrase 'get real' comes to mind - and some folk have some way to go.

Bernard will get there, his problem is the 'Kings wonderful suit of clothes'. Has to toe the line to be part of the mainstream, the problem being the mainstream are up the shoot.

I detect a fellow cynic - haveagoodweekend.

by Wolly | 3rd Sep 10, 2:31pm 1283481098

And the price of bread will do what?

"The New South Wales Government says the first plague locust nymphs have hatched in the north and central-west, signalling the start to what is predicted to be the state's worst outbreak in 30 years."

http://www.abc.net.au/news/stories/2010/09/03/3001446.htm

by Christov | 3rd Sep 10, 2:44pm 1283481860

Holy Toledo Wally.............Floods........ Plague.........pestilence you know what this is adding up to .......

That's it I'm off to rejoin the faith. ..........I know that sounds a tad fickle on my part but it's all about hedging at the mo.

by powerdownkiwi | 3rd Sep 10, 2:47pm 1283482036

it's a bad weekend forecast - I'd find a burning bush

by Christov | 3rd Sep 10, 2:54pm 1283482471

I had one..... but the cream seems to have cleared it.

by powerdownkiwi | 3rd Sep 10, 3:08pm 1283483335

probably crabs. On your foreshore