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June 17, 2009
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It's been a while since we sent you a depositrates.co.nz newsletter.
Since there is so much happening in the market felt it was time to keep you up to date with some of the current news stories.
The two big items at the moment are ING's presentation to investors in its CDO-backed funds and this debate around what is happening in the term deposit market.
ASSET editor David Chaplin reports on the ING meeting in Napier yesterday and we are currently looking into the TD market and will report on that later this week.
Farewell Naomi
Naomi Ballantyne's decision to leave her "baby" ING Life is a significant loss for the life insurance industry but it's also not a big surprise. [more] |
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News
ING faces fury as offer divides investors
About half of the 200 or so investors gathered at the ING roadshow in Napier yesterday indicated they were ready to accept an offer from the fund manager to redeem their units in the group's two underwater CDO funds. More
Be careful before investing in cash PIEs
Boutique wealth manager Newton Ross has raised concerns about cash Portfolio Investment Entities, or PIEs, and warned investors to make sure they've done their homework before putting their money into a cash PIE. More
Bond Focus: NZ yield curve stretched by bond sales, low rates
The steepest yield curve in 13 years is set to continue in New Zealand, mirroring the US and other major economies, as governments worldwide ramp up bond sales while central banks hold short rates near record lows. More
Rates Round-Up
Bollard happy for banks to offer deposit deals; RaboPlus boosts term deposits after OCR review; RBNZ calls for submissions on rules for non-bank deposit takers. More
Allan Hawkins defends prospectus
Allan Hawkins defends Cynotech prospectus and says he is willing to disclose historic fraud. More
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