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NZGB's: Richer On Friday

BONDS

NZGB's have finished 3-4bps richer across the major benchmarks on Friday, the curve has bull flattened.

  • NZGB's ticked away from best levels seen early dealing as much a 6bps richer across the curve before marginally paring gains.
  • RBNZ dated OIS have remained stable through the session, a terminal rate of 5.61% is seen in October.
  • On the wires early this morning May BusinessNZ Mfg PMI printed at 48.9, the prior read was revised lower to 48.8 from 49.1.
  • Looking ahead; May PSI crosses on Monday, May Trade Balance is due on Thursday and the latest ANZ Heavy Truckometer crosses on Friday.

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