China PMIs steady with little expansion; house prices ease in Sydney & Melbourne; Aussie super stress grows; strong El Niño developing; UST 10yr at 4.45%; gold and oil softish; NZ$1 = 59.9 USc; TWI-5 = 63.4

Expatriate New Zealander Ian Taylor arrested on the Gold Coast over money laundering allegations, faces extradition to the USA, the ABC reports

Brian Easton concludes the proposal to reduce the number of public servants is not well worked out, and if the Government is reelected, some 'brutal measures' then

Roger J Kerr sees a growing probability that the NZD will rise to 'well above 60 USc'. As oil prices fall away (in USD), the cost in NZD will fall faster. He also sees a new era of transparency and accountability at the RBNZ