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Government bond turnover (D9)

This data summarises weekly and monthly government bond secondary market transactions in New Zealand.

Special note

Introducing new Government bond

Read more
30 Sep 2022 07 Oct 2022 14 Oct 2022 21 Oct 2022 28 Oct 2022 04 Nov 2022 11 Nov 2022 18 Nov 2022 25 Nov 2022
Total ($m)
Total 46,772 58,954 47,239 39,517 27,014 38,986 38,867 46,852 55,850
Nominal bonds ($m)
April 2020 - - - - - - - - -
May 2021 - - - - - - - - -
April 2023 18,187 22,357 15,150 12,527 4,500 6,785 11,544 17,147 14,637
May 2024 3,738 4,248 3,283 3,378 2,373 3,943 2,022 1,790 3,230
April 2025 2,181 3,797 2,508 3,535 1,754 2,256 1,685 2,223 2,083
May 2026 5,534 7,114 6,139 3,327 2,193 2,977 2,508 4,592 6,006
April 2027 3,004 4,250 4,723 1,014 2,262 3,622 2,938 4,200 3,305
May 2028 2,274 3,059 958 1,993 1,628 2,651 4,449 3,518 4,360
April 2029 1,224 1,873 1,895 2,666 2,254 3,256 2,791 1,795 2,198
May 2031 625 1,277 1,171 1,805 1,253 1,440 1,271 1,158 1,216
May 2032 2,166 2,630 2,438 1,860 1,872 4,148 3,731 3,371 3,653
April 2033 1,425 1,829 2,232 2,446 2,408 2,769 2,717 2,276 1,890
May 2034 - - - - - - - - 8,989
April 2037 630 419 786 832 375 765 1,031 1,791 1,181
May 2041 815 1,768 1,822 1,971 898 1,000 789 1,303 1,069
May 2051 524 539 577 690 636 1,003 595 492 513
Inflation indexed bonds ($m)
September 2025 1,016 1,004 1,813 53 500 683 276 553 938
September 2030 3,239 2,312 1,247 1,381 1,627 1,638 456 458 317
September 2035 173 445 288 11 478 43 9 80 134
September 2040 18 31 209 27 3 9 55 104 132

Introducing new Government bond

28 November 2022

Today sees the introduction of the newly-issued May 2034 nominal government bond, which settled on 22 November 2022.

 


View all Government bond turnover special notes

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.

Read more about NZClear

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.

View our Statistics

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.

Operating rules and guidelines for domestic markets

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), which 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 that sells the security upon entering the arrangement is said to be ‘repurchasing’ the security. The party that 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

Symbol or convention Definition
0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
Light grey 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.