The VIX index –a widely used measure of market risk and often referred to as the “investor fear gauge” – rose to a record high of 80.86 on November 20, 2008. The yields of the treasury securities plummeted on the back of safe haven demands, with the 10 year US Treasury yield touching a low of 2.05% on Dec 30, 2008.
2  Zealand  See Drage, D, A Munro and C Sleeman `An update on Eurokiwi and Uridashi bonds', Reserve Bank of New Bulletin, 68/3, September 2005. 4/7  Figure 6 : NZD since float  New Zealand is not the only country to have experienced a widening of its current account deficit in recent years.