Here are the key things you need to know before you leave work today (or if you work from home, before you shutdown your laptop).

MORTGAGE RATE CHANGES
No changes to report today. All rates are here.

TERM DEPOSIT/SAVINGS RATE CHANGES
No changes here either. All updated term deposit rates less than 1 year are here, for 1-5 years, they are here.

CLAMPDOWN ON UNPAID FINES
Local bailiffs are now trialling handheld devices which scan the number plates of parked cars, and determine whether the owners have overdue court fines or reparations. If they do, the car may be clamped or towed away. No doubt fees will be required to release the impounded vehicles, on top of paying the fine that caused the clamp.

NZGBs POPULAR STILL
We missed updating you on yesterday’s Government bond tenders. All up $450 mln was offered in three maturities. They attracted 114 bids worth a bit over $1.5 bln. Forty bids were successful. Interestingly, the yields achieved in each maturity were almost exactly the same as in the prior equivalent event, one of which was only two weeks ago, and one was six weeks ago.

FARM GATE PRICES MOVE UP
While it may not be being driven by market demand, there are supply issues for livestock processors both here and in some other markets. And that is pressing cattle and sheep prices up. Even venison prices, which have been moderate but stable for a long time are rising again. Essentially European supply constraints are behind rising prices to farmers here.

NZX50 EATS AWAY AT WEEK’S LOSSES
As at 3pm, the overall NZX50 index is +0.4% firmer today, although down -0.2% from a week ago. That makes it down -1.6% since the start of the year although it is still up +3.7% from this time last year. Heartland, Infratil, Hallenstein, and Oceania lead the gainers as Gentrack, Vulcan Steel, SkyCity casino, and Sky TV decline. Market heavyweight is up +0.2% today for a net weekly dip of -0.3%.

WATER WATCH
You may like to know that Auckland’s water storage dams are now 100% full (actually 99.68% full). Normal for this time of year it is 82.7% full. Nationally, the hydro lakes are at normal levels in the South Island, 50% higher than normal in the much smaller set of North Island hydro lakes.

FOR OUR AUSSIE READERS
We now have a new service for our Australian readers; interest.com.au

SWAP RATES LITTLE-CHANGED
Wholesale swap rates are likely little-changed again today. Keep an eye on our chart below which will record the final positions closer to 5pm. The 90 day bank bill rate was down -1 bp at 3.19% on Thursday. The Australian 10 year bond yield is little-changed at 4.35%. The China 10 year bond rate is up +2 bps at 1.71%. That takes it move up to +7 bps in the past week and the most significant move in any direction in over three months. The NZ Government 10 year bond rate is up +1 bp at 4.62% and unchanged at 4.57% in the earlier RBNZ fix today. The UST 10yr yield is also unchanged at 4.39%

EQUITIES QUITE MIXED
The local equity market is up +0.5% in late Friday trade, much better than the other markets we follow. However the ASX200 is down -0.4%. Tokyo has settled back -0.6% after its earlier remarkable run up. Hong Kong is down -1.0% at its open and Shanghai is down -0.4%. Singapore has fallen -0.5%. Wall Street closed essentially unchanged in its Thursday trade on the S&P500. But that is still enough to claim a record high daily close.

OIL FIRMS
The oil price in the US is up a bit less than +US$1, now at just under US$66.50/bbl and just under US$69.50 for the international Brent price.

CARBON PRICE STAYS DOWN
The carbon price is holding at NZ$56/NZU but still with trades very scarce. The next official carbon auction is on September 10, 2025. See our daily chart tracker of the NZU price for carbon, courtesy of emsTradepoint.

GOLD FALLS
In early Asian trade, gold is down -US$19/oz to US$3360/oz.

NZD EASES
The Kiwi dollar is down -40 bps from this time yesterday back at 60.2 USc. Against the Aussie we are down -10 bps at just on 91.5 AUc. Against the euro we are also down -10 bps at 51.3 euro cents. This all means the TWI-5 is down -20 bps from this time yesterday, now just on 67.4.

BITCOIN DROPS
The bitcoin price is now at US$116,277 and down -3.2% from this time yesterday. All the fall has occurred since 7am this morning. Volatility has been modest, now at just on +/-1.5.

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This soil moisture chart is animated here.

Keep abreast of upcoming events by following our Economic Calendar here ».