NZ government bond yields fall to record low as euro woes stoke flight to safety

Thu, 31 May 2012

By Paul McBeth May 31 (BusinessDesk) - The yield on New Zealand's benchmark 10-year government bond fell to a record low as investors around the world look for safer places to park their cash amid fears Europe's sovereign debt crisis may escalate. The yield fell 20 basis points to 3.45 percent, having shed almost 1 percentage point from its peak at 4.36 percent in late March. The yield is now lower than the 3.87 percent level plumbed in the depths of the global financial crisis in early 2009, according to Reuters data. A highly indebted Spa...

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