Here is a quick snapshot of some key overnight news, views, and data.
A former executive of a very private bank, Julius Baer, has given Wikileaks two disks of incriminating information about the bank's high-profile clients. Previously, Wikileaks promised to spill the beans on a big American bank, thought to be Bank of America, but hasn't released any of that data yet.
"How long will it be necessary to pay City men so entirely out of proportion to what other servants of society commonly receive for performing social services not less useful or difficult?"
- John Maynard Keynes, in 1913
more below ...
|7 am||--- 52 week --|
|Crude oil||in US$/bl||91.44||90.94||91.91||70.15|
|US Treasuries||30 yr bond||4.58%||4.53%||4.78%||3.61%|
137.8%: the one number you need to know about China. It's increasing trade dependence on the US gives Washington enormous leverage over Beijing. China is in a net deficit with the rest of the world.
Out of favour
Trading in the NZ dollar has fallen again in December, now back at the low levels last seen in the heart of the 2009 global financial crisis, and well below the exuberant peaks of 2006/7/8.
Out of favour II
Real estate sales may be in the doldrums, but so are bare residential section sales. They ended the year sinking to around 300 - yes, only 308 sections sold nationally in December 2010.