Bond tender has record low yield

The Government in yesterday's bond tender raised $150 million in 2023 stock at a record low yield of 3.39 per cent.

Ten-year stock is also trading at historic lows on the secondary market.

Ninety-day bank bills traded at an average yield of 2.6 per cent last month, the lowest since at least 1985.

And the six-month retail bank deposit rate at 4.1 per cent is the lowest it has been since the 1960s, apart from November and December last year when it hit 4.05 per cent.