Preliminary results from New Zealand’s November 7 election under the MMP system show National, ACT, and NZ First projected at 67 seats in a 131-seat parliament due to overhang, crossing the 66-seat majority threshold by a slim margin while Labour, Greens, and Te Pāti Māori trail at 56. Both major parties polled near 29%, with voters fragmenting toward minor parties including the new Opportunity bloc entering above the 5% threshold. Special votes, historically left-leaning and still to be counted by November 27, plus possible overhang adjustments, leave room for shifts in final seat totals. Traders appear to price the right-leaning bloc’s preliminary edge as the dominant factor supporting a majority outcome.