Market & Portfolio Update - October 2023
Global share markets declined 2.6% in local currency terms in October, as they were impacted by rising long-term bond yields. However, the NZ dollar also weakened by a similar amount, providing a significant offset for NZ-based investors.
The latest US economic manufacturing and employment data came in strong last month, demonstrating the ongoing resilience of the US economy. This economic resilience has been a key driver of the recent rise in bond yields, as investors anticipate interest rates will stay higher for longer.
Despite a lower-than-expected inflation figure, New Zealand’s bond yields followed global markets higher last month. New Zealand’s latest quarterly inflation report showed our annual inflation rate declining to 5.6%, which was lower than the Reserve Bank’s expectation of 6%. It is encouraging to see inflation trending in the right direction, but we still have a way to go until we reach the Reserve Bank’s desired target of 2%.
Financial Planning: Mapping Out Your Financial Goals
When was the last time you sat down and not only set some goals, but mapped out the best way to ensure they are achieved? Goal modelling is more than just financial planning - it’s a roadmap to achieving what truly matters to you. It’s getting answers on what you could be achieving in life, and the best way to get there.
At Lifetime, we go beyond just the numbers to understand your life stages, your aspirations and your personal values.
Lifetime Book Club: Start With Why by Simon Sinek
Welcome to the Lifetime Book Club! This month, we’re exploring an inspiring read for anyone who’s passionate about purpose - Start With Why by Simon Sinek. Whether you’re leading a team, running a business, or just trying to find direction in life, this book is a powerful reminder of the impact of knowing your "why."