New Zealand dollar

The Reserve Bank of New Zealand announced on Wednesday that its quantitative easing programme will come to a surprisingly sudden stop on July 23.

New Zealand has announced its new government bond programme will feature a 30 year syndication, extending its curve from 2041 to 2051.

World Bank printed a dual tranche kauri bond on Thursday, vastly exceeding the amount it had targeted and setting the size record for SSA issuers in the currency.

The New Zealand Treasury reduced its 2020/21 funding programme by NZ$10bn ($6.75bn) to NZ$50bn on Wednesday as its economy shows signs of a quicker recovery than seemed likely after the coronavirus lockdown earlier this year.

The World Bank hit screens on Monday with a new seven year New Zealand dollar bond; the first at that tenor from a foreign issuer in almost 18 months.

International Finance Corp sold the first Kauri bond in more than two months on Thursday, while in the Kangaroo market a pair of European agencies tapped a pocket of demand further down the curve.

Australia and New Zealand broke bond syndication records yet again this week, as Australia printed its largest ever deal while New Zealand scooped its largest ever order book with a seven year tap.

New Zealand began marketing a tap of its outstanding April 2027 bond on Monday as sovereigns get moving for a busy period of syndications. Finland could follow up with the first post-summer pubic sovereign bond in a core currency later this week.

Australia announced a bumper funding programme for 2020-21 on Thursday, almost double its previous effort. Two days earlier, the sovereign surprised the market with a long end deal that attracted a substantial amount of offshore interest.

Australia surprised the market on Tuesday with a bumper long end deal that attracted a substantial amount of offshore interest. The deal comes just as New Zealand sets a date for its for its next syndicated deal.

While bankers in the Northern hemisphere plan well-deserved summer breaks, the Australian and New Zealand dollar markets are set to remain open for business, with some competitive pricing on offer.

Demand for Australia and New Zealand’s first syndications of their 2020-21 fiscal year was high on Tuesday, with both issuers printing their second largest ever deals.