Wholesale interest rates increased to more than three-month highs in the wake of the final RBNZ decision of 2025. The NZ dollar also rose strongly against most trading partners, as markets speculate the central bank is done cutting the OCR. Should we worry about that, or is it a good thing the RBNZ might be…

After a very strong period that has seen global sharemarkets hit new highs, volatility has returned. Despite economic activity holding up well, concern over high share prices and the booming AI space has seen optimism turn to caution. Even a better-than-expected earnings release from tech heavyweight NVIDIA couldn’t turn things around. The S&P 500 index…

A big week looms here in New Zealand, with the main event set to be the Official Cash Rate (OCR) decision and Monetary Policy Statement (MPS) from the Reserve Bank on Wednesday afternoon. Markets see a cut of 0.25% as a certainty, while pricing implies about a 50/50 chance of an additional cut beyond that,…

Last month the NZX 50 index hit a fresh record high, finally surpassing the previous peak from January 2021. It was a long time coming. Other sharemarkets recovered from their post-COVID hangover much more quickly, but we’ve taken almost five years. At first glance, this would all suggest that our market has regained all its…

There’s a lot to watch this week, including a string of delayed US economic releases. However, these might all be overshadowed by the world’s most important stock. Tech heavyweight and AI poster child NVIDIA is scheduled to release its latest quarterly earnings report on Wednesday in the US. Subscribe or follow for the latest insights,…

It was a “risk-off” week for global markets, with most indices slipping as investors became more nervous about extended valuations across parts of the US market. The local NZX 50 bucked the global trend with a small rise, while the NZ dollar continued to drift lower. It fell to US$0.56 against the greenback, the lowest…

Labour’s targeted capital gains tax (CGT) announcement last week was interesting. We’re yet to see the detail, but maybe it’s got merit. I was no fan of the proposals we saw back in 2018, after Jacinda Ardern established a high-powered Tax Working Group chaired by the late Sir Michael Cullen. The CGT framework recommended in…

A busy week looms in New Zealand, with the highlight set to be the September quarter labour force report, due Wednesday. Unemployment is expected to rise to 5.3%, the highest since 2016. The latest Financial Stability Report from the RBNZ will be of interest too. Last but not least, it’s another big week of earnings…

Lower interest rates have been a cause for celebration for many people in recent months. Borrowers and homeowners have seen their costs fall sharply, and there’s more support to come. However, conservative savers with money on term deposit won’t be quite so enthusiastic about slumping interest rates. They were sitting pretty 18 months ago, with…

US credit markets have delivered strong returns this year. Companies have been issuing record amounts of debt, borrowing costs have remained manageable and bond investors have pocketed solid gains. It’s been a golden run. However, in recent weeks cracks have appeared beneath the surface, and the pace at which the problems have emerged is worth…