A review of things you need to know before you go home on Thursday; Truckometer sees no problems, electronic card activity up, linkers popular, ANZ strike on, NZD up strongly, swap rates down again

A review of things you need to know before you go home on Thursday; Truckometer sees no problems, electronic card activity up, linkers popular, ANZ strike on, NZD up strongly, swap rates down again
For Thursday, October 9, 2014. Image sourced from Shutterstock.com

Here are the key things you need to know before you leave work today.

TODAY'S MORTGAGE RATE CHANGES
There were no changes today.

TODAY'S DEPOSIT RATE CHANGES
There were no changes today.

CREDIT CARD CHANGE
ANZ have reduced their 0% balance transfer special offer duration from 12 months to six months today.

TRUCKING ALONG
ANZ's monthly Truckometer was out today for September. It measures light and heavy truck kms driven because it turns out the heavy index is a very good and timely mimic for GDP. The strong month saw the index rise 1.4% in the September quarter, restoring the upward trend. Neither index is yet suggesting a sharp slowdown lies ahead.

CARDS SWIPED FASTER
Electronic card transactions for September were pretty good, up +5.5% year on year. This was despite a fall in petrol prices.

LINKERS POPULAR
Today's Government inflation linked tender drew plenty of support with the average weighted accepted yield recorded at 2.56%  compared with the previous 2.67%. The coverage ratio was 2.6x

ANZ STRIKE TOMORROW
First Union says members who work for ANZ will be on strike tomorrow. The strike comes after union members rejected the bank's latest offer in collective bargaining. 

WHOLESALE RATES
Swap rates were down -2 to -3 bps across the curve. That's two days in a row and represents a big drop. The 90 day bank bill rate was unchanged at 3.68%.

OUR CURRENCY JUMPS
Check our real-time charts here. The Kiwi dollar rose quite markedly today following the dovish Fed minutes. It is currently at 79.4 USc at almost 1½c, it was even up against the AUD at 89.6 AUc and the TWI sits at 76.8.

You can now see an animation of this chart. Click on it, or click here.

Daily exchange rates

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End of day UTC
Source: CoinDesk

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2 Comments

Well off topic but can anyone explain to me why NZXlisted company Rubicons shares continue to fall even though they are the majority owner of NZX listed Tenon.Tenon are engaged in a buy back of their own shares which Rubicon is not participating in.I would have thought that with Tenons future looking pretty bright Rubicons shares may have gone up or am i missing something here.

The buyback  would appear to be artificially inflating Tenon's price, and Rubicon may be hampered by it's other shareholding in ArborGen, and their  track record of burning through cash

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