The falling kiwi against the greenback could be an offsetting factor.
$150m of 15-year government bonds are on sale this afternoon with a 3.5% coupon rate.
In a generally quiet week for domestic data, the ANZ Business Outlook is due out at 1pm.
No domestic economic data is scheduled for today.
Donald Trump unveils tariffs on China.
Domestically, the OCR review is published at 9am in Wellington.
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