New Zealand’s Yield Rises to Two-Year High Amid Rate-Hike Bets
- Advance comes after authorities ease nationwide lockdown
- New Zealand has highest bond yields among developed economies
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New Zealand’s benchmark yield climbed to the highest level in more than two years on bets that the nation is on track to raise interest rates next month.
The country’s 10-year government bond yield rose as much as three basis points to 2.02%, the highest since April 2019. The advance in yields came after Prime Minister Jacinda Ardern lifted the nationwide lockdown outside the largest city Auckland.