New Zealand's 10-Year Yield Slides Below 1% for First Time
- Renewed U.S.-China trade tensions boost global bonds
- Benchmark yield declines to 0.981% amid bets RBNZ to cut rates
Photographer: Brendon O'Hagan/Bloomberg
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New Zealand’s 10-year bond yield slipped below 1% to a fresh record low as renewed U.S.-China trade woes added to the appeal of haven assets and as speculation rose that the nation’s central bank will cut interest rates further.
The benchmark yield fell as much as three basis points to 0.981%. Yield on 2-year New Zealand government debt was one basis point lower at 0.744%. China on Thursday called looming U.S. tariffs a violation of accords reached by Presidents Donald Trump and Xi Jinping, vowing retaliation.