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
ANZ has cut most of its fixed rates, GoLend cuts its rates. All rates are here. And note, you can compare mortgage offers with our new calculator that takes into account other costs and cashback incentives, here.

TERM DEPOSIT/SAVINGS RATE CHANGES
ANZ cut all its TD rates. GoLend reduced its rates. All updated term deposit rates less than 1 year are here, for 1-5 years, they are here.

BUSINESS BASE RATE CHANGE
ANZ said its Working Capital Base Rate has been reduced by -40 bps to 10.8%. (ANZ adds a risk margin to that for most business borrowers.)

SPIKE IN MORTGAGEE SALES
Bargain hunters being spoiled for choice as a flood of mortgagee sales hits the market.

FARMERS START TO SPEND
The sales of new tractors roared back in September, up +24% from a year ago to 291 in the month. This was the most since September 2022. But in the context of the ten-year average for a September being 342, as good as this latest data is, it is still -15% lower than that average.

REAL MEAT EXPORTS SURGE
Strong global demand saw red meat exports reach $717 mln in August, up +22% from a year ago, according to Meat Industry Association (MIA) analysis. The US was the largest customer taking +9% more. China recovered as a customer with their demand rising +39% into second place. Third was demand from the UK, up more than +100%.

NZX50 FIRMS SLIGHTLY
As at 3pm, the overall NZX50 index was down -0.7% in its Friday session so far. That puts it -1.3% lower over the past five working days. It is up +1.8% year-to-date. From a year ago it is now up +4.2%. Market heavyweight F&P Healthcare is down a very sharp -2.7% today so far. Also down were Vulcan Steel, Investore, and SkyCity casino. But Vector, PFI, Channel Infrastructure and Summerset lead the gainers.

MORE DEBT APPETITE
The RBNZ’s Credit Conditions survey of banks shows a significant increase in “credit availability” (ie demand for debt), largely driven by demand for residential mortgages, but also commercial property, and large corporates.

SECURITISED VEHICLE LOANS POPULAR
Franchised vehicle lender MTF has sold on $300 mln in securised debt, touting “a strong pricing outcome, the second lowest in MTF’s history”. They say 90% of it was rated AAA(sf). They also said “over 90%) of the main bidders were domestic including KiwiSaver funds.

EXPORT REBOUND
After two months of declines, Singapore’s exports rose almost +7% in September from a year ago, largely on the back of recovering exports of electronic goods.

SWAP RATES DIP AGAIN
Wholesale swap rates are will likely be lower today again across the board on global trends. 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 on Thursday at 2.54%. Today, the Australian 10 year bond yield is down another -5 bps from yesterday at 4.12%. The China 10 year bond rate is down -1 bp at 1.75%. The NZ Government 10 year bond rate is down -3 bps at 3.99%. The RBNZ data is now all delayed with Thursday’s rate down -4 bps to 4.00%. The UST 10yr yield is down -8 bps at 3.95%.

EQUITIES RETREAT
The local equity market is now down -0.6% in Friday trade so far. And the ASX200 is down -0.7% in afternoon trade. Tokyo has opened also down -0.7%. Hong Kong is down -1.2% at its open. Shanghai is down -0.8% from yesterday. Singapore is down -0.5% at its open. Wall Street ended its Thursday session with a -0.6% loss for the day.

OIL DROPS HARD, ESPECIALLY IN THE US
The oil price in the US is down -US$1.50 at just over US$57/bbl and the international Brent price is now just over US$60.50/bbl. US oil is down -6.7% for the week, Brent is down -3.4%.

CARBON PRICE HOLDS
There have only been a small handful of tiny trades today and the price has held at $56/NZU. The next official carbon auction is on December 3, 2025 and likely heading for another failure. See our daily chart tracker of the NZU price for carbon, courtesy of emsTradepoint.

GOLD RISES TO YET ANOTHER NEW HIGH
In early Asian trade, gold is up +US$98 from yesterday at this time, now at US$4326/oz and a new high. That’s a +7.5% gain just for the week. Silver is now at US$53.80/oz and up +7.0% for the week.

NZD TURNS LOWER
The Kiwi dollar is back down -30 bps from yesterday, now at 57.2 USc. Against the Aussie we are down -10 bps at 88.4 AUc. Against the euro we are down -40 bps at 48.9 euro cents. This all means the TWI-5 is down -40 bps at just on 61.7.

BITCOIN DROPS
The bitcoin price is now at US$108,636 and down another -2.5% from this time this time yesterday. Volatility has again been modest, just under +/- 2%.

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