Queensland sells $3b green bonds as spreads snap lockdown drift
New South Wales' determination to reopen the economy at the 70 per cent vaccinated mark has been met with encouragement from the bond market, where spreads finally snapped their months-long drift.
The yield on NSW’s 2032 bond declined to 1.74 per cent on Thursday from 1.77 per cent earlier in the week. The improvement was also reflected in swap spreads, which measure the risk premium of state governments relative to other risk-free assets. The margin peaked at 38 basis points at the end of last week, and is now around 36 basis points.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Debt markets
Fetching latest articles