The Cooperative Bank moved its fixed home loan rates up today, all but their 6 month rate. All current mortgage rates are here<\/a>. And note, you can compare mortgage offers with our unique calculator that takes into account other costs and cashback incentives, here<\/a>.<\/p>\n
TERM DEPOSIT\/SAVINGS RATE CHANGES UNIMPRESSIVE THE LABOUR LIST NZX50 LOWER TO START THE WEEK FUNDING ROLLOVER HOLDING ON TO FUNDING AUSSIE ON HOLIDAY JAPAN SHINES A LITTLE BRIGHTER BUILDING UP TO A VERY BIG SHAKE A SMALLER TRICKLE SWAP RATES RISE EQUITIES MOSTLY LOWER OIL PRICES RISE CARBON PRICE FIRMS GOLD DIPS NZD HOLDS BITCOIN FIRMS FROM LOWS Select chart tabs<\/p>\n US$ Select chart tabs<\/p>\n 1 year % \n This soil moisture chart is animated here<\/a>.<\/p>\n
Coop Bank also raised their 9 and 12 month TD rates, plus their 2, 3, and 4 year TD rates. All updated term deposit rates less than 1 year are here<\/a>, for 1-5 years, they are here<\/a>.<\/p>\n
Paymark (ex-Worldline) reported<\/a> underwhelming transaction activity through its payment network in May. This was especially true in Auckland. The spending growth in Canterbury looks impressive but they remind us that the year-ago levels there were unusually depressed. However, any type of expansion (even that less than inflation) is being celebrated by retailers.<\/p>\n
The Labour Party has released its 2026 election candidate list. See it here<\/a>.<\/p>\n
As at 3pm, the overall NZX50 index is down -0.5% so far today, with a weekly fall now of -1.1%. It is down -2.9% from six months ago. From a year ago it is now up +4.5%. Market heavyweight F&P Healthcare is little-changed from Friday. So far today there have been 26 gainers led by Synlait Milk, Kathmandu, A2 Milk and EBOS. There have been 53 decliners led by Heartland, Oceania, Meridian and Infratil.<\/p>\n
Under-pressure Ryman Healthcare is seeking up to $150 mln in a six-year new bond issue<\/a>. It is needing to offer up to +190 bps over swap to improve its chances to raising this cash. Ryman (RYM<\/a>) only had cash reserves of $10 mln at its March 2026 balance date. These funds are said to be for: “The purpose of the offer is to provide further diversity of funding sources and tenor, and the net proceeds of the offer (excluding the value of any RYM010 Bonds exchanged under the Exchange Mechanism described below) will be used to repay a portion of Ryman\u2019s existing bank debt, refinancing of RYM010 and for general corporate purposes.” RMY010 is due to mature early December 2026 and is also for $150 mln and currently yields 4.78%. 190 bps over a current six year swap is about 5.80%.(3.92%+1.90%).<\/p>\n
Meanwhile, Synlat Milk (SML) said<\/a> it is on track to shore up its financing mainly by getting key shareholder Bright Foods to roll over its existing $130 mln support loan. This is needed to lock in refinancing of its senior syndicated bank facilities.<\/p>\n
We should note that it is a public holiday<\/a> in much of Australia today – except Queensland and Western Australia. Financial markets are closed there.<\/p>\n
Some top-line data out in Japan today for the March quarter points to their improving metrics. GDP<\/a> came in with a +1.8% growth rate and better than expected (+1.3%). And bank lending data<\/a> shot up in May, up +5.7% and easily exceeding the expansion of +5.4% in April from a year ago.<\/p>\n
There has been a very large earthquake off the coast of Mindanao, Philippines today. A magnitude 8.2 has been recorded, others say 7.8. These are the largest in a series that started on June 2, 2026.<\/p>\n
To cross the Strait of Hormuz, the transit trickle<\/a> is lower. Only four ships crossed in the past 24 hours. 250 are waiting. ‘Normal’ is about 60 ships per day. The belligerents are all hotheads and have all taken to exercising their firepower muscles.<\/p>\n
Wholesale swap rates<\/a> will probably be higher today, roiled by geopolitical events. Keep an eye on our chart<\/a> below which will record the final positions closer to 5pm. The 90 day bank bill rate was unchanged at 2.66% on Friday. Today, the Australian 10 year bond yield is down -1 bp at 4.91%. The China 10 year bond rate is up +1 bp at 1.73%. The Japanese 10 year bond is up +5 bps at 2.71% today. The NZ Government 10 year bond rate is now at 4.63%, up +8 bps from this time Friday. (The RBNZ data is now ‘prior day’ with the Friday rate down -2 bps at 4.53%.) The UST 10yr yield is up +9 bps at 4.57%.<\/p>\n
The local equity market is down -0.6% from Friday’s levels. The ASX200 is on holiday and isn’t trading. Tokyo is has opened down a sharp -3.8%. Hong Kong is down -0.6% and Shanghai is down -0.7% at its open today. (South Korea is down -4.5% at its open and Taiwan is down -3.3%.) Singapore is down -1.3%. After its -2.6% fall last week, the S&P500 futures suggest Wall Street will open tomorrow up a minor +0.3%.<\/p>\n
American oil prices are up +US$3 from this morning with the WTI benchmark now just over US$93.50\/bbl, and the international Brent price is now just over US$96.50\/bbl. This latest shift is all about the Middle East mess.<\/p>\n
There have been very few trades today on the secondary market, and the price has firmed +$1 to $51\/NZU. 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$17 from this morning’s open at US$4311\/oz. Silver is holding at US$67.50\/oz.<\/p>\n
The Kiwi dollar is little-changed from this morning against the USD, now just on 58 USc. Against the Aussie we are also unchanged at 82.3 AUc. Against the euro we are holding at 50.3 euro cents. This all means the TWI-5 is now just under 61.7 and up +10 bps from this morning.<\/p>\n
The bitcoin price is now at US$63,074 and up +1.3% from this morning. Volatility has been moderate at just on +\/- 2.6%.<\/p>\n
\n AU$
\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
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