New Zealand Yields Hit Highest Since 2024 on Outlook Cut, Oil
A cable car travels above the central business district in Wellington, New Zealand.
Photographer: Mark Coote/BloombergNew Zealand’s benchmark bond yields rose to the highest since 2024 after the country’s AA+ credit rating outlook was cut to negative by Fitch Ratings.
Yields on 10-year bonds jumped 11 basis points to 4.85%, the highest since May 2024. Yields on policy-sensitive two-year notes had a similar move to 3.71%, the highest in over a year. The New Zealand dollar slipped 0.2% to 58.20 US cents amid a broadly stronger greenback.