New Zealand 10 year bond yields like CPI beat
10 year yields higher
Although the NZD is pressured today on the risk off tones. The NZ 10 year bond yields spiked higher on the better than expected CPI data out last night.
This forms part of a brightening picture for the NZD. At the end of last year Governor Orr said markets need to be looking at a 100bps rate alteration as the RBNZ walked markets back from negative interest rate projections. We can now look at bond tapering talk.
All of this is good news for NZD although the risk off tones is keeping that hidden today.