NZ govt bond tender tipped to perform well

NZ govt bond tender tipped to perform well
(Image: Getty)
Rebecca Howard
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...

More Economy

NZIER's Shadow Board predicts RBNZ will hold, with one exception
Economy

NZIER's Shadow Board predicts RBNZ will hold, with one exception

The New Zealand Institute of Economic Research’s Shadow Board expects the Reserve Bank of NZ to hold the official cash rate at 5.5% for another year, although one member did call for a hike this week. “While inflation pressures are still high and the labour market remains strong,...

Rebecca Howard 08 Jul 2024
RBNZ could hint cuts may come sooner
Economy

RBNZ could hint cuts may come sooner

The RBNZ will announce its latest decision at 2pm on Wednesday. 

Rebecca Howard 08 Jul 2024
Briscoe Group says tax changes will hit FY net profit by $7.4m
Retail

Briscoe Group says tax changes will hit FY net profit by $7.4m

New legislation affects depreciation on commercial buildings.  

Rebecca Howard 05 Jul 2024
Core Crown tax revenue higher than expected in May accounts
Economy

Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024