Here are the key things you need to know before you leave work today. We are publishing this story a bit sooner today in case you are off early for the long weekend. Enjoy.
JOB ADS STRONGER
The number of job advertisements lifted 1.1% in March (seasonally adjusted), making it three out of three monthly rises in Q1. This bodes well for an ongoing downward trend in the unemployment rate.
WELFARE ROLLS SHRINK
The total number of people on benefits has fallen 15,000 in the past year. There were reductions in most categories. All up there are now 295,320 people receiving a benefit, the lowest since March 2009. 73.9% of them have been on the benefit for a year or more, down from 75.5% in the March quarter a year ago. At its peak in December 2010 it reached 352,707.
CONSUMER CONFIDENCE RISES
The reality of interest rates inching higher has done little to dent consumer sentiment in the latest ANZ-Roy Morgan survey for April.
NZSUPER FUND HAS A FLAT MONTH
Their March result saw a tiny fall in the value of the $25 billion fund for the month. Since inception, this fund has returned 9.49% and over the past 12 months the returns have been 19%.
NZGS BOND DEMAND STRONG
The latest $200 million government bond offer received bid totalling $851 million. The bonds were issued with an effective yield of 4.4047% pa. With the Government about to return to surplus, there will be much fewer of these issues available and investors are scrambling to get some.
RED ZONE FUTURE
Policy makers are now starting to consider options for the Christchurch red-zoned land, an area equal to four times the size of Hagley Park. Public consultation is promised.
SOE FLOAT SUCCESS
The Genesis SEO float has had a 'successful' first day for investors.
WHOLESALE RATES FLATTER
Swap rates rose today by 3 bps across the curve, mirroring the rise in UST 10yr yields overnight.The 90 day bank bill rate held on to yesterday's recent high of 3.28%.
OUR CURRENCY
The NZ dollar has recovered all yesterday's drop following the CPI induced fall. It is now at 86.3 USc and 92.1 AUc. The TWI is at 80.1.
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