Brief | Intelligent Investment

New Zealand Yield Update October 2025

October 15, 2025 10 Minute Read

By Zoltan Moricz Shang (Roger) Du

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In Q3, market yields experienced notable firming, the most significant since Q2 2021, as lower interest rates enhanced liquidity and pricing for assets.  Currently, the margin over 2-year swaps stands above the long-term average, indicating a favourable environment for continued firming. This report seeks to help you consider how these trends might affect your portfolio and inform your investment approach.