Market sees Jacinda's resignation as terrible news.
If the PM see's no hope of reelection due to how the economy will perform in 2023 then it must be dire indeed
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Market sees Jacinda's resignation as terrible news.
If the PM see's no hope of reelection due to how the economy will perform in 2023 then it must be dire indeed
Can't remember the date John Key resigned as PM but it would be interesting to go back on this site and compare posters statements and reactions to a similar event (and markets if you are catotonic).
I have always said Jacinda is very much like John Key on the main issues of national super, capital gains tax, boosting the housing market through immigration.
She got in by not being any of the previous labour leaders, no changes in policy just a dumb electorate who like a smiley face.
She won the second time by making a promise to the boomers which was one more than national, which was saving them from covid and leaving the bill and mess for the next generation to pick up, even though covid hardly affected young people.
Didn't John retire because he did not want to become unpopular by hanging around too long.
NZ10Y follows the worlds ...ie down 16bips ....I thought RBNZ wants it to go higher ...Shud be good for stocks
Jim Cramer at CBNC says trucking industry has bottomed thats why JD Hunt went up 5% while market tanked in US ...Good for our dear MFT ...now I got it why its got legs recently ...BTW it trades at 20+ P/E ...that shud make out MFT worth $ 90 if not more !!!
"I like to say that the stock market always does what surprises people the most. What would surprise people the most? The market getting back near all-time highs."—Jared Dillian, The 10th Man
Most i reckon think a big crash is coming but most still fully invested because who knows... always that possibility it wont happen. and if it does, most acknowledge they wont get the timing right and miss out on most of the gains because when it rebounds they will think its a dead cat bounce or something like that.. So best just to ride through and reinvest dividends and surplus earnings from your wage and enjoy life