New Zealand dollars

  • 29 Jan 1999
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New Zealand dollars

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Market commentary:

Compiled by Glenn Blackley, RBC DS Global Markets, London. Tel: +44 171-865 1759

Wellington (and effectively the whole domestic market) was closed on Monday, and this coupled with the impact of the Australian Day holiday on Tuesday, promoted a very quiet start to the week.

The release of a Business Confidence survey on Wednesday identifying a strong rebound from -20% to +19%, provides further indication that the New Zealand economy is looking towards a healthy growth phase. Low interest rates, export competitiveness and expanding domestic activity underlies the claim by Finance Minister Birch that "New Zealand appears to be moving ahead of world (growth) trend". Although he conceded that the country may dip into budget deficit briefly in 1999/2000.

Government bonds had a mixed week with the March 2002 - July 2009 spread flattening to 29bp from 34bp. Yields of the shorter bond were down 3bp, while the longer rallied 7bp.

The New Zealand dollar initially drifted lower on the back of falling commodity prices but found support later in the week based on a strengthening Australian dollar.

  • 29 Jan 1999

All International Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 92.59 388 8.96%
2 Citi 85.30 278 8.25%
3 BofA Securities 63.15 265 6.11%
4 Barclays 58.01 223 5.61%
5 Deutsche Bank 55.74 184 5.39%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 60.87 123 14.06%
2 Credit Agricole CIB 28.59 93 6.60%
3 Santander 25.41 90 5.87%
4 JPMorgan 23.88 61 5.52%
5 UniCredit 21.51 103 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 2.07 11 10.42%
2 BofA Securities 1.40 6 7.01%
3 Citi 1.37 7 6.87%
4 Morgan Stanley 1.36 6 6.85%
5 JPMorgan 1.31 7 6.59%