$400m of NZ bonds on offer this week
A local government bond tender today should ease some of the recent demand-supply bottleneck, one economist says.
Wednesday, May 14th 2014, 9:04AM
On offer from the Local Government Funding Agency (LGFA) is $10m of 2017s, $10m of 2019s, $25m of 2021s and $155m of 2023.
Combined with $200m of NZGBs on offer on Friday, there are now $400m of NZ bonds on offer this week.
BNZ economist Kymberly Martin said that should be a relief to the market.
“This, along with some rebound in longer-dated US yields, should allow NZ longer-dated NZGB yields to find a base. At present, the yield on NZGB32s sits at 4.29%.”
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