Higher bond yields push equity prices lower

Thu, 04 Feb 2021

The NZX 50 fell on Thursday with rising interest rates beginning to take some heat out of the share market as investors try to get ahead of tightening monetary policy. The S&P/NZX 50 Index dropped 99.1 points, or 0.7 percent, to 12,992.14. Within the index, 28 stocks fell, 15 rose and seven were unchanged. Turnover was $152 million.NZ government bond yields and swap rates took another step higher today, with the 2-year swap rate now at 0.35 percent and the 10-year swap rate at 1.42 percent — up almost 16 basis points from Wednesd...

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