There's considerable nervousness about the direction of interest rates. After having such a strong run earlier, markets need some time to catch their breath.

Any suggestion as to where inflationary pressures still lie could offer direction with regard to interest rate policy in the months ahead.

As a political matter, it's very much in Gov. Bush's interest for voters to feel unsettled with the status quo.

Clearly the cycle of rising global interest rates has only just started, and this is likely to make it a very tough environment for equities through the second half of the year.

We'll be watching the case with a lot of interest, but to be perfectly honest it's not a major issue in New Zealand.

Two years ago, it looked like the alternative-fuels business was going to atrophy. There was no interest, no direction, no incentives, no major breakthroughs. It was stuck in low gear.