Daily Archives

05 03 2019

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05:00A resurrection; How Etana Custody Ltd, a company whose CEO & major shareholder has never been to New Zealand, got kicked off NZ's financial service providers' register and then got itself back on
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07:00US construction spending weak; Wall Street down; trade talk resolution closer; China suppresses World Bank report; tariff impacts; Fonterra outlook downgraded; UST 10yr 2.73; oil stable and gold drops; NZ$1 = 68.1 USc; TWI-5 = 72.7
08:00The Opening Bell: Where currencies start on Tuesday, March 5, 2019Taking advantage of low wholesale rates, HSBC launches a very low two year home loan rate, withdraws other 'specials' but still has market-leading rate cardUS equity markets have fallen back sharply overnight while global rates have declined; USD is modestly higher, although the NZD and AUD have outperformed; NZ rates increased, and the curve steepened yesterdayDavid Hargreaves crunches some numbers on the growing proportion of first home buyers in an uncertain housing market
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10:00Ratings agency Fitch says Fonterra has structural issues it needs to address; expects Fonterra to prioritise the strength of its balance sheet over payments to farmer shareholdersSales rates ranged from 21% to 47% at Barfoot & Thompson's main auctions last weekNew Zealand's big five banks deliver a strong quarter's financial performance, but some banks would have work to do to meet RBNZ's capital proposalsNew Zealand Bankers' Association calls for the adoption in NZ of Aussie-style authorised deposit-taking institution framework
11:00David Cay Johnston says Michael Cohen’s testimony was a roadmap of Donald Trump’s multiple crimes but the Democrats need to do a better job of connecting the dots
12:00Andrew Little sympathetic to having a referendum on lowering the MMP threshold to 4%, but doesn't rule out passing legislation to make the change before the 2020 election
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14:00Risk sentiment improved over the weekend when positive comments came out of meetings between US negotiators and Chinese officials; NZD started the week well peaking at 0.6827 USD; NZDAUD pair opened the week around 0.9610
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16:00A review of things you need to know before you go home on Tuesday; a new low mortgage rate, Fonterra chided, leverage not improving, car sales high, commodity prices up, swaps rates slip, NZD firm, & more
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18:00IRD to get information from larger pool of jurisdictions to help crack down on tax evaders; More data not expected to bring in more tax revenue until IRD ups its capabilities
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