Mixed trade in Govt bonds
PA Wellington New Zealand Government bonds were mixed in trading yesterday- after opening higher, but future direction is unclear.
July 1992 bonds eased to 16.35 per cent after rising to 16.39 per cent against 16.37 per cent at the open and 16.29 per cent on Monday morning.
Dealers said bearish sentiment developed on Monday afternoon after the Reserve Bank offered very long dated T-bills in its weekly tender. “The market is waiting for the results of the Tbill tender today and the Foodprice Index on Friday,” a dealer said.
New Zealand money market yields were little changed in morning trading and dealers said they expect similar trading to continue. Call traded between 18.50 per cent and 19.0 per cent against 19.25 per cent on Monday and 90-day Bank Bills were little changed at 19.10 per cent against 19.05 per cent on Monday.
There was no Reserve Bank open market operation end dealers said trading was quiet “It was a non-event morning,” a dealer said.
Other dealers said they expect little change in trading for the next few days.
Meanwhile the Reserve Bank withdrew $175 million from the system yesterday in a well bid Treasury bill tender. A weighted average yield of 19.606 per cent resulted from successful bids for $B5 million in 273-day bills offered by the bank, while the weighted average for $9O million in 280-day bills was 19.466 per cent
Total bids for the shorter term bills were $287 million and for the longer term bills, $367.65 million.
For the former, the range of yields on successful yields was 19.09 to 19.69 per cent, and on the range for the 280-day bills was 19.09 to 19.68 per cent.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19871007.2.156.18
Bibliographic details
Press, 7 October 1987, Page 39
Word Count
285Mixed trade in Govt bonds Press, 7 October 1987, Page 39
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.