Government bond turnover (D9)

This data summarises weekly and monthly government bond secondary market transactions in New Zealand.
Released
17 January 2022 03:00 p.m.
Next release
25 January 2022 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Weekly
19 Nov 2021 26 Nov 2021 03 Dec 2021 10 Dec 2021 17 Dec 2021 24 Dec 2021 31 Dec 2021 07 Jan 2022 14 Jan 2022
Total ($m)
Total 18,374 25,412 18,875 18,844 20,823 17,315 8,536 11,318 21,223
Nominal bonds ($m)
April 2020 - - - - - - - - -
May 2021 - - - - - - - - -
April 2023 1,113 1,532 1,374 1,195 1,961 2,034 843 1,137 1,283
May 2024 3,741 3,801 2,316 2,248 2,152 2,022 904 1,126 1,586
April 2025 2,600 3,950 871 1,118 1,445 1,666 1,458 1,845 2,892
May 2026 1,595 2,464 2,234 2,335 2,661 1,414 648 1,195 2,811
April 2027 2,010 4,251 4,870 2,964 2,222 1,753 712 1,196 1,508
May 2028 1,000 1,495 992 951 757 991 355 638 664
April 2029 668 1,030 589 1,555 1,104 273 199 241 959
May 2031 1,523 1,070 1,548 1,964 1,659 1,280 403 516 1,830
May 2032 650 1,217 1,425 1,564 2,542 2,682 1,990 1,910 4,709
April 2033 468 700 368 434 430 576 110 91 659
April 2037 1,112 1,017 869 768 1,592 844 392 416 639
May 2041 205 379 171 292 978 305 49 94 528
May 2051 545 868 316 516 348 551 159 449 453
Inflation indexed bonds ($m)
September 2025 590 994 477 337 414 536 66 201 567
September 2030 458 313 66 206 216 168 95 43 100
September 2035 27 60 30 83 63 4 2 1 4
September 2040 70 270 360 314 280 215 150 216 32

The data: coverage, periodicity, and timeliness

Coverage characteristics

Data is in millions of New Zealand dollars. The following data covering all transactions that have occurred within the New Zealand Bond Market are obtained from NZClear:

  • Weekly and monthly volume of Non-Repo transactions by bond maturity and bond type.
  • Weekly and monthly volume of Repo/All Other transactions by bond maturity and bond type.
  • Weekly and monthly volume of total transactions by bond maturity and bond type.

Bond turnover is captured from the NZClear system, with the data recorded on the transaction settlement date. Only one side of each transaction is recorded. In respect of repurchase agreements, one side of each leg of the transaction is, therefore, recorded. Monthly and weekly data is available from January 1996.

From February 2020, splits between Non-Repo transactions and Repo/All other transactions are not available.

Periodicity

Weekly.

Timeliness

Weekly data is published on the first working day after the end of the preceding week. Monthly data is published on the first working day of the week after the end of the preceding month.

Access by the public

Data release

Data is released on the Reserve Bank’s Statistics section.

Statistics release calendar

The Statistics Release Calendar provides a long-term plan of scheduled releases. It is updated and released on the first working day of the month.

View the Statistics Release Calendar

Integrity

Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses

Although there is no law that requires the RBNZ to compile and publish data on the bond turnover survey, there is an agreement between New Zealand Debt Management Office (NZDMO) and the RBNZ that the RBNZ will produce and publish a weekly Secondary Market Turnover Survey.

Provision of information about revisions and advance notice of major changes in methodology

Procedures are outlined in Section 4 of the Operating Rules and Guidelines for Domestic Market Operations.

Quality

Dissemination of documentation on methodology and sources used in preparing statistics

Daily data covering all transactions are obtained from NZClear.

Dissemination of statistics that support statistical cross-checks and provide assurance of reasonableness

Not applicable.

Types of long-term Government securities currently on issue are:

Nominal bonds which are denominated in New Zealand dollars, issued for terms greater than one year, and have a fixed interest coupon paid semi-annually in arrears.

Inflation-indexed bonds (IIB) are denominated in New Zealand dollars with a fixed coupon paid quarterly in arrears. On maturity, the principal and the indexed component of the bonds are redeemable. The index component refers to the incremental CPI adjustment from the date of bond issue to the principal due date.

Security related Terminology

Maturity
The date that final repayment for a security or loan is expected to be made. Maturity data may be presented in slightly different ways depending on the particular form of the security.
Discount
The discount is the difference between the present value and the nominal value of a security.
Present value
The present value refers to the current market value of a security.
Nominal value
The nominal value of a security represents the amount to be repaid at maturity. The nominal value is recorded on the face of the document recording the entitlement, generally a certificate or bond. It is also referred to as the "face value".
Coupon
A coupon represents the regular interest payment on a security (such as a bond). Coupon payments are typically annual or semi-annual.
Date first Issued
The first date on which stock related to the particular security was first issued.
Repurchases and reverse repurchases
Arrangements under which one party sells a security at a specified price to another party with an agreement that the security will be repurchased at a fixed price on a specified future date. The party which sells the security upon entering the arrangement is said to be "Repurchasing" the security. The party which buys the security upon entering the arrangement is said to be "Reverse repurchasing" the security.

Other descriptions

Total New Zealand government bond turnover
The nominal of value government securities traded in the secondary market over the period specified.
Non-Repo trades
This category captures secondary market trading where a permanent change of ownership has resulted.
Repo/all other
This category is intended to capture repurchase agreements, in-house transactions, the take-up of new issue bonds, and any other transactions that are not appropriately categorised as "Non-repo".

Symbols and conventions for summary table

0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
light red background Historical

General notes

  • Individual figures may not sum to the totals due to rounding
  • Percentage changes are calculated on unrounded numbers
  • You are free to copy, distribute and adapt these statistics subject to the conditions listed on our copyright page.