Market & Portfolio Update - November 2024

10 December 2024 by Lifetime in Market Update

Market & Portfolio Update - November 2024

The Global equity market had a strong month, up +3.8%, driven by the US. Trump won the US election early in the month, which bolstered investor optimism surrounding potential corporate tax cuts. Furthermore, expectations for de-regulation boosted the US financials and energy sector, while the industrial sector was seen as one of the main beneficiaries of tax cuts and trade policy.

Central banks globally continued to lower rates during November. England and the US central banks both lowered their respective rates by 0.25% in response to falling inflation.

Moving closer to home - the Reserve Bank of New Zealand continued their interest-rate cutting cycle, reducing the Official Cash Rate from 4.75% to 4.25%, marking the second 0.50% cut in a row. The Reserve Bank noted households and businesses have not been spending as much as usual, however, lower interest rates should encourage households and businesses to spend more, supporting economic growth. The NZ share market didn’t move much in reaction to the cut, as it was widely expected by the market. Nonetheless, the NZ share market index returned a healthy +3.4% in November, bringing the year-to-date return to +11.8%.

preview image - Lifetime Book Club: Happy Money: The Science of Happier Spending by Elizabeth Dunn & Michael Norton

Lifetime Book Club: Happy Money: The Science of Happier Spending by Elizabeth Dunn & Michael Norton

“Money can't buy happiness – unless you know how to spend it.”

That’s the heart of Happy Money. This isn’t your usual guide to budgeting, saving, or investing. It’s a fascinating, research-driven look at how to turn spending into something that genuinely makes you feel good – not just for a moment, but in a meaningful, lasting way.

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The Biggest Mistake Existing Property Investors Make

Are you asset-rich but cash-poor? This is very common for a lot of existing property investors who purchased before or during the last property boom and experienced significant gains in property values.

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