Here are the key things you need to know before you leave work today.
TODAY'S MORTGAGE RATE CHANGES
The Co-operative Bank has reduced its 3 and 4 year fixed rates today to 4.75% and 4.89% respectively.
TODAY'S DEPOSIT RATE CHANGES
NZCU Baywide increased their 18 month TD rate from 4.10% to 4.15%.
AN ALTERNATIVE
Having issues with your investment in Fonterra? You will soon be able to invest in China Dairy Corporation which is promoting its plan to list on the ASX early next year. Less pesky regulations to worry about that might diminish returns ...
A DECADE LOW
Stock in the world’s largest miner, BHP Billiton, touched a fresh decade-low this morning after the price of iron ore dropped below $US45 a tonne.
HIGH ASSET PRICE
The NZX50 is hovering around record highs today at 6100.
TURNING BACK UP
Dairy futures pricing is suggesting increases are likely at the next GDT auction. At the last auction, WMP pricing was US$2,148/MT. The derivatives market is now signaling US$2,220/MT, a +3.3% rise. Further out (March 2016) pricing suggests US$2,500/MT, a +16% rise.
HIGH LEVERAGE
The initial data is in for ANZ, ASB and Kiwibank for their September 2015 leverage readings. We will update this detail as it come to hand. Kiwibank has a problem with high and rising leverage.
WHOLESALE RATES HOLD
Local wholesale swap rates slipped -1 bp across all terms today. The 90 day bank bill rate is down -2 bps at 2.85%.
NZ DOLLAR MOVES SIDEWAYS
Our currency has wobbled around a fairly tight range today, back just marginally higher than yesterday. It is now at 65.3 USc, at 90.7 AUc and 61.3 euro cents. The TWI-5 is now at 70.9. Check our real-time charts here.
You can now see an animation of this chart. Click on it, or click here.
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