They cut their three year offer by -55 bps to 5.55%, and their four year rate by -10 bps to the same level. TOP END INDICATIONFonterra raised its milk price forecast by +25c to the range $7 to $8/kgMS, or a mid-point of $7.50/kgMS. And the NZ Government 10 year bond rate is holding, up +1 bp at 4.93%, while the earlier RBNZ fixing was at 4.87% which was up +3 bps today. EQUITIES RETREAT FURTHERThe NZX50 is heading for a minor -0.1% retreat in late trade today. Daily swap rates Select chart tabs 1 year % 2 years % 3 years % 4 years % 5 years % 7 years % 10 years % Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMAThis soil moisture chart is animated here.

Source: Stuff December 07, 2023 09:25 UTC