NZ shares fall as bond yields climb

Mon, 09 Aug 2021

New Zealand shares fell Monday, after making gains last week, as long-term bond yields in the United States climbed on strong employment data.The S&P/NZX 50 Index fell 69.17 points, or 0.5%, to 12,700.83. Turnover was $229 million.The benchmark index was up 1.4% over last week even as the yield on a NZ 10-year government bond rose 10 basis points over the same period.Bond yields took another step higher over the weekend –– rising to 1.66% in NZ –– as the US 10-year rate moved sharply higher, to 1.30%, after...

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