Local Government Funding Agency monitors international bond buying closely as global rates rise

Tue, 13 Mar 2018

By Sophie Boot March 14 (BusinessDesk) - Local Government New Zealand's funding body is closely monitoring investment in its bonds as US Treasury yields increase, with concerns borrowing costs may rise if foreign investment demand drops off. The Local Government Funding Agency (LGFA) is the second-largest issuer of debt securities in New Zealand behind central government. At LGNZ's quarterly media briefing in Wellington today, LGFA chief executive Mark Butcher said yield forecasts show government bond yields are expected to be lower than...

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