New NBDT lender Welcome has trimmed its minimum mortgage lending rates today. All rates are here<\/a>. And note, you can compare mortgage offers with our new calculator that takes into account other costs and cashback incentives, here<\/a>.<\/p>\n
TERM DEPOSIT\/SAVINGS RATE CHANGES SELLING ONE BIG DIVISION NOT MUCH IS EXPECTED TO CHANGE (OR IMPROVE) TAKE OUR NEW QUIZ NZX50 RETREATS HUGE BOND FUNDS RAISED IN SYNDICATED TAP – HUGER DEMAND NOT TAKING A POSITION LIBERAL BLOOD-LETTING SWAP RATES HOLD EQUITIES ALL RETREAT OIL HOLDS LOWER CARBON PRICE STAYS DOWN ON TINY VOLUME GOLD RETREATS NZD LITTLE-CHANGED BITCOIN VERY BEARISH Select chart tabs<\/p>\n US$ Select chart tabs<\/p>\n 1 year % \n This soil moisture chart is animated here<\/a>.<\/p>\n
No changes here today. All updated term deposit rates less than 1 year are here<\/a>, for 1-5 years, they are here<\/a>.<\/p>\n
Fletcher Building is seeking offers<\/a> for its residential business before Christmas. The sale of these residential operations might raise in excess of $850 mln for the struggling construction giant. The news has made no difference to the FBU share price today.<\/p>\n
The RBNZ released the results of its Q4-2025 business expectations survey (M15<\/a>) today. Businesses expected inflation to slip slightly in the future, seeing it at 2.4% in a year. They also see wage inflation at 2.6%, also mower than previously. And they don’t see much change in the expected jobless rate which they expect to be 5.1% in a year. This is all a ‘green light<\/a>‘ for more RBNZ rate cuts. If Nicola W can’t revive the economy, Christian H will have to.<\/p>\n
If you haven’t already done so, don’t forget to take this week’s quiz<\/a>. Join the more than 600 who did it last week. This week’s version ends on Sunday. You can bookmark this page<\/a>.<\/p>\n
As at 3pm, the overall NZX50 index<\/a> is down -0.5% so far on Tuesday following global trends. That puts it also down -1.3% over the past five working days. And it is up +2.8% year-to-date. From a year ago it is now up +5.2%. Market heavyweight F&P Healthcare is little-changed so far today. Serko surges, Kathmandu, a2 Milk, and SkyCity casino also lift; Investore, Meridian, Freightways, and Briscoes weigh on the index.<\/p>\n
The Treasury (DMO) has offered $6 bln in a May 2036 bond<\/a>. Demand was huge, exceeding $24 bln. It was all placed at a yield to maturity of 4.34%. It does make you wonder where the unsuccessful $18 bln will end up. (As bit as today’s demand was, it was less than the $31.3 bln offered in the early July 2025 similar event.)<\/p>\n
The Australian central bank released the minutes<\/a> of its last meeting on November 4 today, close-watched because they have rising inflation and a relatively strong labour market. But they downplayed both aspects, calling them ‘slight’ and expecting them to be transitory. Policy was still viewed as slightly restrictive, and the board saw \u201cno need to adjust\u201d the cash rate. They said patience was deemed appropriate while assessing spare capacity, labour trends, and policy stance. Scenarios supporting a hold included stronger demand, lower supply capacity, or a view that policy was no longer restrictive. Conversely, further easing could be warranted if labour conditions weaken or growth disappoints. Basically, you don’t learn anything by reading these minutes.<\/p>\n
And staying in Australia, the wavering Liberal Party, which has just seen a sharpish shift to the right in a move that destabilised new leader Sussan Ley<\/a> (and who is under threat from two challengers), is also seeing a coup<\/a> take place in their Victorian state division, and a likely coup<\/a> in their NSW state division. All these moves by inhouse ‘conservatives<\/a>‘ (ie Abbott-wing) against ‘moderate’ forces will likely make them less electable.<\/p>\n
Wholesale swap rates<\/a> are probably little-changed again today. Keep an eye on our chart<\/a> below which will record the final positions closer to 5pm. The 90 day bank bill rate was up +2 bp at 2.50% on Monday. Today, the Australian 10 year bond yield is down -4 bps at 4.46%. The China 10 year bond rate is little-changed at 1.80%. The NZ Government 10 year bond rate is down -3 bps at 4.36% after yesterday’s run-up. The RBNZ data is now all delayed with Monday’s rate is up +1 bp at 4.30%. The UST 10yr yield is up +2 bps at 4.13%.<\/p>\n
The local equity market is now down -0.5% in Tuesday trade so far. The ASX200 is down -1.5% in afternoon trade. Tokyo has fallen -1.7% at its open. Hong Kong is down -1.4% and Shanghai is down -0.6%. Singapore is down -0.1% at its open. Wall Street ended its Monday trade with the S&P500 down -0.8%.<\/p>\n
The oil price in the US has held at its lower level, still just on US$59.50\/bbl and the international Brent price is now just under US$64\/bbl.<\/p>\n
There have been have been very few trades today and the price has held down at $43\/NZU. The next official carbon auction is on December 3, 2025 and likely heading for another failure. See our daily chart tracker<\/a> of the NZU price for carbon, courtesy of emsTradepoint<\/a>.<\/p>\n
In early Asian trade, gold is down -US$70\/oz from this morning, now at US$4020\/oz.<\/p>\n
The Kiwi dollar is unchanged from this time yesterday at just on 56.6 USc. Against the Aussie we are up +20 bps at 87.1 AUc. Against the euro we are unchanged at 48.8 euro cents. This all means the TWI-5 is little-changed at 61.2.<\/p>\n
The bitcoin price is now at US$91,367 and down -3.7% from this time yesterday in a growing rout. It peaked at US$124,715 on October 6 so it down -26% since then, in full bear mode. Update: It has now dropped below US89,000, down -28% from its peak. Volatility has been moderate at just on +\/- 2.4%.<\/p>\n
\n AU$
\n TWI-5
\n \u00a5en
\n \u00a5uan
\n \u20acuro
\n GBP
\n Bitcoin<\/p>\n
\n 2 years %
\n 3 years %
\n 4 years %
\n 5 years %
\n 7 years %
\n 10 years %<\/p>\n
\n ![](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2025\/11\/soil-moisture-2025-11-03.gif\" "\\"click")
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