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NZGBs A Touch Richer Early On, Supply & Lower Tier Data Due

BONDS

Wednesday’s move lower in U.S. Tsy yields is supporting NZGBs in early Thursday trade, with the major benchmarks running 3-4bp richer across the curve, in a parallel shift.

  • RBNZ dated OIS indicates a terminal OCR of just over 4.90%, little changed vs. levels observed late yesterday.
  • Thursday’s domestic docket will be headlined by the latest round of NZGB supply (which includes NZGB Apr-25, May-32 & May-41), with the latest food price index readings also due.
  • U.S. CPI data presents the next meaningful macro release, crossing later on Thursday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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