November 2011
Beginner
335 pages
9h 33m
English
The equation of narrowing swap spreads leading to a fall in New Zealand dollar/U.S. dollar is written explicitly and often in news releases at the New Zealand's Stock Exchange (NZX), as well as throughout New Zealand's newspapers such as the Dominion Post and the NZ Herald.
Spreads narrow and bond prices fall along with the New Zealand dollar, called the Kiwi, is a commonly reported story as newspapers educate the investing public. The spreads of reference are always reported as the shorter-dated two-to-five-year maturities. This accuracy is without question. Possibly the reason for the five-year spread reference is so much bond issuance is brought to market by funding a fixed rate against the ...
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