Buyers queue up for NZ govt bonds; RBNZ expands QE

Tue, 07 Apr 2020

The local government bond market got a major boost today with rampant demand for 2031 New Zealand government bonds and the Reserve Bank expanding its own bond-buying programme by 10 percent. The Treasury announced that an additional $3.5 billion of May 15, 2031 New Zealand government bonds will be issued next week, 75 percent more than the $2 billion minimum it had initially signalled would be for sale in the syndicated tap offer. The bonds pay annual interest of 1.50 percent and were sold at a yield of 1.4025 percent. Treasury said t...

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