Bonds
Poor euro-zone GDP data sends German bond yields to record lows
15th Aug 14, 9:04am
by
By Raiko Shareef
NZ interest rates slid 2-3bps yesterday, despite a positive NZ retail sales outturn for Q2.
There continues to be interest to receive NZ rates, likely helped by a rally in interest rate globally.
The 2-year swap closed 2bps lower at 4.05%.
Overnight, the poor GDP numbers out of Europe helped German bond yields make fresh record lows, with the 10-year bond trading below 1.00% for the first time ever.
The US equivalent followed suit, falling by 2bps to 2.40%, looking likely to close at the lowest level since June 2013.
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