Just had a closer look. For almost all of the 7 Months from November 2008 to May 2009 it traded below today. Broke 49c intraday in March 2009,
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I'll believe we have inflation under control when I see back-to-back quarters of declining tradable and non-tradable inflation. Talk is cheap.
Job numbers data just put in US look pretty good
Initial Jobless claims being little less then forecast showing very sticky employment status which is leading to higher rates for longer theme ....10year jumps big time today ....market thinks recession not easy to get ...FED will work harder to get it . Almost certainty of Hard Landing at least in USA in next 6-9 months
Doom data at peak ...Next 4 weeks should see significant bottom .
NZ is totally different picture ...our 10 year still below last peak ...our Index still just 3% below recent peak . Will we do catch up with US or chart our own course
As now the defensive and high yield nature of NZX comes to our rescue which didnt help in 2021 when USA was going up as growth oriented market
IMO USA will see much more pain then us but they do sour the sentiment worldwide
those US bond yields much higher today , guess it feed thru to NZ bonds at some stage
Why u think they will feed thru to NZ ? Do we have 1-1 correlation in economy terms ? Did they ever feed thru to Japanese Bonds ?
All economies have their own nature ....though I agree it will sour the sentiment and will have some rub on effect but it seems our economy is not strong enough to withstand such high rates ...US economy is showing much better strength thus needing stronger medicine
NZD lower does put pressure on imported inflation but NZD is down just on rates outlook differential and outlook ahead ...raising rates to match USA will not happen as it will crush us
Is going ‘defensive’ (stocks that is) a strategy to minimise possible losses (or at the very best low total positive returns)
Seems a picking a few winners might be better strategy (not all stocks will go down) so better study up and find one or two