Wake Up Call: RBNZ increases bond-buying rate; US economy surges

Fresh covid-19 jitters after Air NZ crew member tests positive.

Mon, 08 Mar 2021

Summary The Reserve Bank has quietly announced an increase in its bond-buying plan for the first time since late January, but it has had little immediate impact on long term bond yields, which are now at two-year highs of almost 2%. Overseas, the US$1.9 trillion stimulus plan was given the green light over the weekend as data showed America’s jobs market surged in February. US stocks rose 1.5% to 2.0% over the weekend, setting the tone for local stocks this morning, although higher bond yields here may dampen enthusiasm.Taper reversal The...

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