Market development needed to fire up New Zealand's new local authority index
- Friday, 30 April 2010
ANZ and the New Zealand Exchange (NZX) hope the new Local Authority Bond (LAB) Index launched on April 29 will become a benchmark for fixed interest investments in the local authority debt market. While investors say the index could be a useful information tool, the current setup of the market – with deal sizes often too small for inclusion in the index – means its adoption is likely to be a work in progress.
