Market & Portfolio Update - June 2023
Global share markets had another strong month in June, rising 3.7% in New Zealand dollar terms. Investors were encouraged by a sharp drop in year-on-year inflation in the US of 4.0% - still above target but substantially lower than the 9.1% recorded in June 2022.
International bond markets were flat over the month as central banks transitioned from hiking their respective policy rates to pausing to evaluate incoming data. This is a signal that interest rates globally may be nearing their peak. The US Federal Reserve maintained their policy rate at 5.25%, the first pause after 10 consecutive hikes over the past 15 months. This should be supportive of bond returns looking forward.
The first half of the year has started off strongly for financial markets, regaining the lost ground they experienced in 2022. Global share markets have led the way, up 19% in New Zealand dollar terms. This highlights the importance of staying invested during volatile times and not focusing on news headlines which tend to focus on negatives.
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In the hustle and bustle of daily life, the concept of mindfulness often finds its place in discussions about mental health and stress reduction. However, its impact on financial wellbeing is a hidden gem worth exploring.
Research from the New Zealand Retirement Commission’s Money Matters 2025: The Power of Emergency Savings report highlights growing financial pressure among New Zealanders. The findings show that 56% of participants feel financially uncomfortable, while only 44% report feeling financially comfortable. Financial concerns are also increasing on a year-on-year basis, with 42% of people worried about managing finances from pay to pay this year, compared with 40% last year.
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Discover the secrets to financial success as we delve into the nine key habits practiced by prosperous individuals. From continuous learning and strategic investment to smart spending and insurance protection, this article offers invaluable insights to empower you on your journey towards financial freedom.