Reported about 10 hours ago
New Zealand sovereign bonds face their worst losing streak in a month as traders take profits following a remarkable rally. Yields on two-year notes rose to 3.83%, marking three consecutive days of increases, while 10-year note yields reached 4.77%, the highest since June. The downturn follows a year of local debt outperforming developed markets due to aggressive policy easing by the Reserve Bank of New Zealand amid recessionary pressures. As signs of economic recovery emerge, investors are recalibrating expectations, leading to a selloff in New Zealand bonds.
Source: YAHOO