NZD losing shine: New Zealand 10-year government bond yield hits record low

New Zealand dollar is losing its shine as a "high-yielding" major currency, courtesy of dovish RBNZ expectations and the resulting drop in the bond yields. 

The yield on the benchmark 10-year government bond yield slumped to a record low of 2.11 percent soon before press time. 

New Zealand reported a weaker-than-expected employment numbers yesterday, triggering speculation the Reserve Bank of New Zealand might sound more open to rate cuts at its policy meeting, scheduled for Feb. 13.