Here are the key things you need to know before you leave work today.
MORTGAGE RATE CHANGES
Both BNZ and HSBC raised mortgage rates today. See the details here.
DEPOSIT RATE CHANGES
There are no term deposit or savings account rate changes to report today.
NZ WINS ONE
New Zealand has won a trade dispute with Indonesia. Together with the United States, we jointly brought the case against Indonesia in 2013 over a range of barriers imposed on agricultural imports since 2011. These included import prohibitions, use and sale restrictions, restrictive licence terms and a domestic purchase requirement. the win mainly affects our beef trade with Indonesia.
CHINA BOSSES UPBEAT
Executives at China’s largest corporations ended 2016 on an upbeat note with overall confidence rising to the highest level since August 2014 in December. The pickup in headline sentiment suggests companies there remain cautiously optimistic heading into 2017, according to the latest MNI China Business Sentiment Survey.
This is our final 4pm review of the year. Enjoy your break. We plan to return on January 9.
WHOLESALE RATES UP
NZ swap rates are up yet again, but in a flattening bias today. The two year is up +3 bps, the three year is up +4 bps, and the ten year is up +1 bp. The 90 day bank bill is -1 bps lower at 2.01%. NZGB rates are up +2 bps as well. These changes have come even though the US Treasury 10 year yield has fallen -2 bps, now at around 2.54%. Our 1-5 rate curve is its steepest in 20 months.
NZ DOLLAR ON HOLIDAY MODE
Little happened in very light currency trading today. The NZD is still at 69.1 USc. On the cross rates, it is at 95.7 AUc on a sinking Aussie, and at 66.1 euro cents. The TWI-5 index is still at 75.9. Check our real-time charts here.
You can now see an animation of this chart. Click on it, or click here.