Here are the key things you need to know before you leave work today.
MORTGAGE RATE CHANGES
The Co-operative Bank cut its 4 year rate to 5.39% and 5 year down to 5.59%, both -16 bps.
DEPOSIT RATE CHANGES
NZCU Baywide trimed its 6 and 9 month rates, but added +5 bps to its 12 month rate, taking it to 4.15%.
This story will be progressively updated because we are running behind today. It was our annual end-of-year function and we have arrived back in the office a bit late. Check back later for more.
QV SIGNALS AKL, CHC DROPS, WTGN RISES
QV's latest valuations are a mixed bag, with average values flat or down compared to a year ago in Auckland and Christchurch, but rising in most other places.
FARMGATE RETURNS FALL
Fonterra has cut its 2017/18 forecast Farmgate Milk Price by -35 cents to $6.40 per kgMS reflecting 'prudent approach to ongoing volatility' in the global dairy market. See the full table here.
Growth in wholesale trade is up +6.2% in Q3 from the sale quarter a year ago. Higher grocery sales and fruit exports helped to lift overall wholesale trade values. This was partly offset by vehicle sales dipping from recent high levels.
STRONG DEMAND FOR LINKERS
September 2040 Government inflation-linked tender brought a weighted average accepted yield of 2.11% which was down -5 bps from the previous tender.
Australia’s trade surplus figure for both goods and services was sharply lower than expected in October as exports fell unexpectedly by -3% and imports rose. It has hit the AUD.
WHOLESALE RATES HOLD
Swap rates rose +1 bp today. The 90 day bank bill rate is unchanged at 1.90%.
NZ DOLLAR SLIPS
The NZ dollar is lower at 68.6 USc. On the cross rates we are unchanged at 90.9 AUc and 58.2 euro cents. The TWI-5 is now at 71.6. Bitcoin has just taken off again, now up to US$13,718 after having touched US$14,100 earlier.
You can now see an animation of this chart. Click on it, or click here.