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NZGBS: Richer In A Data-Light Session, Local Calendar Empty Again Tomorrow

BONDS

NZGBs closed with a twist-flattening of the 2/10 curve. Benchmark yields were 1bp higher to 6bps lower. With the local calendar empty today, domestic participants have likely used US tsy dealings in today’s Asia-Pac session for directional guidance.

  • As a reminder, the local market was closed Monday and Tuesday this week for the Christmas holiday period.
  • Cash US tsys are dealing flat to 3bps richer across the major benchmarks, with a flattening bias, in muted Asia-Pac dealing.
  • Swap rates closed 5-8bps lower, with the 2s10s curve flatter.
  • RBNZ dated OIS pricing closed flat to 2bps softer across meetings.
  • (Bloomberg) The RBNZ was unable to publish some data to its website at 3 pm local due to technical difficulties, according to an emailed statement. It will publish data, including Exchange Rates and TWI, as soon as the issue is resolved.
  • Tomorrow, the local calendar is empty again.
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