Money 2013: Stocks in trade

By Jonathan Underhill In Money, Money 2013

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28th February, 2013
$450 million of funds will be looking for a home on March 28 and by all accounts it will be a long hard look. National Australia Bank has called in its BNZ Income Securities perpetual shares. The investors in these NZX-listed hybrid securities have been getting 9.89% annual interest since they were issued in early 2008. Try getting that interest rate today in a world where central banks are printing money and keeping interest rates near zero, and benchmark bond rates such as 10-year US Treasuries have touched record lows in the past 12 months. “Easy global monetary policy settings are ...

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