Kiwi covereds to widen, but not due to affordability
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Covered Bonds

Kiwi covereds to widen, but not due to affordability

New_Zealand_Kiwi_Fotolia_230x150

Despite a deterioration in the affordability of housing in New Zealand, loan-to-value ratios are low and homes are comparatively more affordable than they are in much of Europe. Even though credit risks remain contained, it seems likely that spreads in the New Zealand covered bond market are set to be repriced wider.

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