5.1 p.c. GiltEdged Yield
Short-term Government stock showed a yield of 5 1 per cent, last week. Yields on medium-term and longterm stock were slightly under this figure. The weekly return of Gov. eminent stock prices and re. turns calculated by the Reserve Bank show’s that 14 issues maturing within one to five years averaged £5 2s! 2d per cent The medium term yield was £5 Is 6d per cent, and the long term yield was £5 Is 3d per cent. The short-term yield is the highest recorded in New Zea. land in recent years. The yields on medium term and long term stocks are also the highest recorded on these classes of investment for many years.
The yield on short term stock is normally lower than the yield on medium term, which is again normally lower than the long term yield. The reversal of the normal order is a symptom of tight credit
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Press, Volume C, Issue 29520, 23 May 1961, Page 19
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1545.1 p.c. Gilt-Edged Yield Press, Volume C, Issue 29520, 23 May 1961, Page 19
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