Bonds
Across the swap curve rates rose and the market may push yields even higher ahead of the RBNZ meeting
7th Mar 14, 8:34am
by
By Raiko Shareef
The continued improvement in global risk sentiment helped NZ swap yields grind higher yesterday.
Both the 2-year and the 10-year swaps gained 4bps to 3.90% and 5.05% respectively.
The 2-year swap is currently at the top end of its recent range, with the market seemingly happy to push it higher leading into the RBNZ meeting on Thursday.
Offshore, safe-haven bonds sold off, with the US 10-year bond yield up 2bps to 2.72%. German and UK bond yields rose by 4bps and 5bps respectively.
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