When your job is literally to have your finger on the pulse of the economy this is unacceptable. Decisions are made from their forecasts. When a realistic range of possibilities is say +/- 150bps, a 220bps miss is a shocker.
Printable View
Oil company makes good coin pulling it out of the ground, they set aside a certain amount of money per barrel extracted to cover the costs of decommissioning. They sell the field to another less credible company including the little piggy bank full of money for decommissioning. Less credible company siphon off all the money overseas, cries foul - there’s not enough oil anymore, we are going broke……. Off the go leaving the bill for tax payers.
Yep…… yep…… yep…… yep……
Yes all the "alternative" ideas seem to benefit overseas people more than people living here.
The drumbeats are getting louder...........................
https://www.goodreturns.co.nz/articl...dp-growth.html
"Latest GDP figures show the economy grew by 1.6% in the three months to March, beating forecasts of -0.6%.
The surprisingly strong data has prompted ANZ's team of economists to bring forward their rate hike predictions."
https://thebull.com.au/asx-has-bigge...in-four-weeks/
"Australian Market Report: Shares had their biggest fall in more than four weeks on the Australian market as
investors responded to the prospect of global interest rates moving higher."
https://www.reuters.com/business/wal...es-2021-06-17/
"Weakness in tech shares pulled Wall Street lower at the open on Thursday after the Federal Reserve signaled
it could start tapering its stimulus earlier than expected, piling pressure on a sector that is seen as vulnerable to higher interest rates."
https://apnews.com/article/inflation...4af689f13a5ef7
"The Federal Reserve signaled Wednesday that it may act sooner than previously planned to start dialing back the
low-interest-rate policies that have helped fuel a swift rebound from the pandemic recession but have also coincided
with rising inflation."
Europe = a shade of red to end the week.
What I like about the NZX is it has a more of an ability to withstand higher interest rates in comparison to most other markets.
NZD falling more dramatically than US shares over the last two days. I guess this will help reduce the sting in USF.nzx USG.nzx, USV, USM and USS when the market opens next week. It's been painful at times holding these as the NZD has surged. Can't believe how well the NZD had been doing considering our vulnerable economy.
Hopefully the NZD will keep on falling so I can feel wealthier in NZD terms ;)
Roger Kerr makes sense:
https://www.interest.co.nz/currencie...nged-past-week
https://www.interest.co.nz/currencie...s-recent-weeks
https://www.stuff.co.nz/national/hea...evel-2-tonight
Covid-19 NZ: Wellington moving into alert level 2 tonight
Was the glass towers on the hill housing a filthy bunch of Politicians a place visited ? ;)
The US market keeps on trucking. I sold a little bit this morning when the market opened at 1.30am (VOO - Vanguard's 500 ETF and the oil ETF XLE) to give me cash to live off for the next couple of years. I'd been sailing a little close to the wind over the last six months and didn't have much cash on hand to do much of anything. So I'm putting the selling into the category of "raising cash to completely fill up my cash bucket" rather than the "getting the f*** out of dodge" category.
So I'm still staying at the party.
https://www.youtube.com/watch?v=E7KM7dDRDUo
I do enjoy the WealthTrack channel:
https://www.youtube.com/watch?v=FN8IsvNLKcI