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Markets Monthly: Bond sell off takes a breather while shares rally

  • Long-term government bond yields here and abroad eased over the month but are significantly higher than the levels at the start of 2021, and a year ago.
  • Meanwhile, the local sharemarket’s underperformance over 2021 has continued.
  • At its April OCR Review, the RBNZ kept all its monetary policy settings steady and emphasised that stimulatory monetary policy will be needed for some time.

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