Those Westpac cuts today only match what the other big 3 were already doing . The banks have room to move lower as wholesale rates continued lower today .
Printable View
Russell 2000 up 3.6% is confidence that inflation battle getting over ...it shud have impact on smaller markets like NZX ....expect further follow thru up move ....maybe Friday can curb some enthusiasm but surely sentiment is changing ...low hanging fruit will go faster ie +5% from lows !!!
I don't mind a bit of Government assistance...
That's if it was intervention.
The size of the move in minutes will put the market on notice. Gold also near all time highs again, we are nearing the change in cycle.
https://finance.yahoo.com/news/japan...130139783.html
Everybody excited about food prices falling as per Stats NZ report yesterday …headline stuff
But the narrative included this -
Despite the annual fall in overall food prices, the price level is the third highest since the series began in 1961. Food prices increased 1.0 percent in June 2024 compared with May 2024.
Seems food prices on way up to me
https://www.stats.govt.nz/news/annua...-in-six-years/
Lack of trucks on the road confirms economic slowdown - ANZ
An unprecedented drop in heavy traffic suggests economic growth in the second quarter could be ugly reading
https://www.rnz.co.nz/news/business/...c-slowdown-anz
I see NVIDIA reached another lower high this week.
I think Bull is right, US stock indices will drift lower with lower interest rates.
This could mask what might actually happen. Big tech driving an S&P index decline while the rest of the market recovers?
Personally I’m all for a US retracement. My core holdings are long term well diversified iUS and European funds. Any opportunity to buy cheaper is fine by me :)