NZ 2-year swap falls to record low as traders increase bets on rate cut

Thu, 07 Feb 2019

By Rebecca Howard Feb. 7 (BusinessDesk) - New Zealand's two-year swap rate fell to a historic low after weaker-than-expected jobs numbers spurred investors to price in a greater chance of a rate cut. The two-year swap fell as low as 1.7980 percent and recently traded at 1.8175 percent versus 1.8980 percent Tuesday ahead of the public holiday. The rates fell after Statistics New Zealand said the seasonally adjusted unemployment rate rose to 4.3 percent in the three months ended Dec. 31, from a revised 4 percent in the September quarter. Ec...

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