The Markets

High bond yields rout equity market

Monday 22nd of February 2021

The S&P/NZX 50 Index fell 122.39 points, or 1%, to 12,426.24. Within the index, 29 stocks fell, 13 rose and eight were unchanged. Turnover was $175.2 million.

Stocks in the benchmark index have fallen more than 5% this month as the yield on government bonds has exploded. Today, a 10-year government bond has a yield of 1.7% up from 1.1% a month ago.

This has led to a revaluat...

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