Rising bond yields pull shares lower

Fri, 19 Feb 2021

New Zealand shares joined the general fall in global markets as investors priced in rising bond yields, that have been climbing on inflation expectations. The S&P/NZX 50 Index fell 84.97 points, or 0.7%, to 12,548.63. Within the index, 27 stocks fell, 14 rose, and nine were unchanged. Turnover was $203.7 million.“Global equity markets’ barnstorming run hit a small speedbump overnight, contributing to a slightly more cautious tone across broader financial markets,” Mike Jones, an ASB Bank economist said. Equity in...

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