Here's my summary of the key overnight news in 90 seconds at 9 am, including news things are looking a bit grimmer around the world today.
This is despite our local surge in business confidence, to a 14 year high.
German factory orders unexpectedly fell in August, backing up the European Central Bank’s view that the economic recovery in the euro area is fragile.
Five years after a financial crisis in the United States helped spread a deep global recession, much of the world again fears collateral damage. The relative calm on Wall Street is worrying some investors, who fear the markets will not signal to politicians the true danger of hitting the debt ceiling until it is too late.
Markets are only now just starting to signal worry, with short term Treasury debt jumping in yield. Long term debt yields have hardly moved however.
The IMF has cut its forecast of global growth, although at the same time it said the global economy was actually getting healthier.
In Bali, the 3 day TPP ministerial meeting has wrapped up in a rather low key way. No breakthroughs were announced.
In China, the real estate boom is in full swing, with Golden Week home sales hitting records and prices rising fast. It has the hallmarks of a frenzy.
In Australia, the ANZ is warning the RBA not to cut their interest rates further, for fear of encouraging their house price boon.
We will get the first look at September house prices here today, with QV data due out this morning, and the REINZ data due tomorrow.
The NZ dollar starts today at 83.0 USc, 88.0 AUc, and the TWI is at 76.9.
The easiest place to stay up with today's event risk is by following our Economic Calendar here »
No chart with that title exists.
9 Comments
Lol. Some time ago I said that the 1% would become the .01% as the pool of wealth to be redistributed diminishes. The 99% have been exhausted and since the 1% holds the wealth then that will become parasitic on itself. I suspect that the anti obamacare camp are simply part of this process.
The Republicans in America , just as the Labour/Greens in NZ , are still in denial that they got thrashed in consecutive elections ...
... the electorate of the USA has endorsed Barack Obama's healthcare reforms , every bit as much as Kiwi voters have supported John Key's sell-down of SOE's ....
If you win an election , you get the priviledge to do what you promised ... ... that's democracy , isn't it Mr Boerhner / Cunliffe ?
We'll see how the NZ voter supports sell downs or not.....we have a referendum to see....
Just like Boerhner, GBH is afraid....that they the voters will find out just what is what....and wave him goodbye.
PS Greens vote went up, that is no thrashing its an improvement.
Also the opposition isnt holding the lower house or shutting the Govn here in NZ.
or trying to get the TPP signed off and fast.
Just why the hurry? loss of face?
regards
One month US Treasury Bill graphic - oops some lost their nerve.
Check out the three month Treasury Bill to gauge the nearby pace of the stampede to cash.
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.