NZ shares stabilise as US Fed meets

Investors are betting the Fed will hike interest rates by 75 basis points.

Wed, 15 Jun 2022

New Zealand shares found a steady footing on Wednesday after two days of dramatic declines and ahead of central bankers in the United States meeting to decide rate increases.The S&P/NZX 50 Index fell just 5 points, effectively 0%, to 10,635.92. Turnover was below average at $125.6 million.Bond yields across the curve continued to find new highs, with the NZ two-year government bond now at its highest level since 2009 and on track to joining the 10-year and five-year above 4%.This upward move follows a global trend after hot US inflation dat...

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