Market & Portfolio Update - April 2023
Global share markets had another positive month in April, rising 1.6% in local currency terms, as investors were encouraged by the latest round of company financial results. Of the companies that have reported to date, the majority have exceeded earnings expectations, with particular strength seen in large tech names such as Alphabet and Meta.
Following the collapse of two small regional US banks in March, we saw a third US regional bank (First Republic) come under pressure toward the end of April. Ultimately the US regulators took control of First Republic Bank and sold it to the much larger and well-capitalised J.P Morgan.
New Zealand’s annual inflation rate fell from 7.2% to 6.7% in the first quarter of the year. While still well above the Reserve Bank of New Zealand (RBNZ) target rate of 1 – 3%, it was lower than many economists were expecting.
Undeterred by the better-than-expected inflation rate, the RBNZ raised the OCR an additional 0.5%, taking New Zealand’s benchmark interest rate to 5.25%. Current market expectations are for one more hike to 5.5%.
Lifetime Book Club: Stolen Focus by Johann Hari
"The truth is, we are not losing our ability to focus because we are lazy or undisciplined. We are losing it because our attention has been stolen."
That is the central idea of Stolen Focus. This is not a typical productivity guide filled with tips to switch off notifications. It is a thoughtful, well-researched investigation into why so many of us are struggling to concentrate and what can be done about it.
Market & Portfolio Update - October 2025
The global share market (represented by the MSCI World Gross Index) was up +3.5% in NZ dollar terms in October. The relatively strong month was underpinned by signs of easing trade tensions between the US and China and another solid US corporate earnings season.