The Reserve Bank of New Zealand (RBNZ) has embarked on an asset purchasing programme as part of its regular open market operations in support of monetary policy goals. KangaNews will provide subscribers with easy access to asset purchase data, which will be updated as information is made publicly available by the RBNZ.
Australian fund managers, strategists and traders remain sceptical of the apparent rationale behind a bond sell-off that has seen local long-end yield spike after creeping higher in previous months. The price move appears to reflect greater inflation expectations and an interest rate hike before the Reserve Bank Australia’s forecast of 2024, but there is some evidence that it is not being backed by substantial repositioning activity.
On 25 February, New South Wales Treasury Corporation (TCorp) revised down its total funding task for financial year 2020/21 by A$6.25 billion (US$5 billion) to A$29.55 billion, following the release of the New South Wales (NSW) state government’s half-yearly review.