Offshore holdings of New Zealand government securities recorded a slight decline in March 2026, extending a softening trend in foreign investor participation. According to the latest data, the Reserve Bank of New Zealand (RBNZ) reported that offshore holdings slipped to 56.70% in March, down from 57.20% in February 2026.
The modest 0.5 percentage point fall suggests a cautious recalibration rather than a sharp withdrawal by overseas investors. While the change is incremental, continued easing in offshore ownership can be closely watched by markets for potential implications for demand, liquidity, and pricing in New Zealand’s sovereign bond market.
The figures were updated on 20 April 2026, providing the latest snapshot of foreign appetite for New Zealand government securities as investors adjust their portfolios amid evolving global and domestic conditions.