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NZGBSs Cheaper On Global Impulse

BONDS

The bearish impulse observed in U.S. Tsys on Wednesday has spilled into NZGB trade, where the major cash benchmarks run 13-15bp cheaper, reversing the bulk of yesterday’s richening.

  • RBNZ terminal rate pricing is little changed, with dated OIS peaking around 4.60%, marginally above levels observed late on Wednesday.
  • The monthly ANZ commodity price index headlines the domestic docket on Thursday, although global market forces will provide more of an input for the space than that release.
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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