NZ govt bond tender tipped to perform well

(Image: Getty)

Thu, 30 Nov 2023

Westpac Bank expects today's New Zealand government bond tender to “perform well”, partly due to a global bond rally over the past month.The debt management office will tender $500 million in nominal NZ government bonds (NZGBs), comprising $200m of 2030 bonds, $250m of 2032 bonds and $50m of 2051 bonds.The past four weekly tenders have been strong, well above the 12-month average bid-cover, Westpac head of NZ strategy Imre Speizer said. “Favouring NZGBs is a rise in ASW [asset swap] spreads from last week, a glob...

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