N.Z. Bonds Fall on Quake Cleanup; Kiwi Rises to 3-Week High

New Zealand’s bonds fell, pushing 10-year yields to the highest in a month, on speculation the government’s finances will worsen as it spends about NZ$2 billion ($1.4 billion) to rebuild after last week’s earthquake.

The so-called kiwi dollar rose to the strongest in three weeks after a better-than-forecast U.S. jobs report boosted investor appetite for growth-sensitive currencies. Australia’s dollar was near a four-week high as the nation’s job advertisements rose. Standard & Poor’s said it may cut the rating on Christchurch City Council and its unit Christchurch City Holdings Ltd. after last week’s temblor.