It can take a lifetime of hard work and dedication to build family wealth but just two generations to lose it. While it’s not uncommon for a family’s third generation to find themselves back where their grandparents started, it’s a fate that can be avoided with careful planning.
While equity markets were higher, bond markets were mostly lower. US government bonds fell, in part, due to concerns around the US fiscal deficit and growing debt, while news that Moody’s had downgraded the US credit rating also posed headwinds. New Zealand bonds were also lower, driven by the jump in food prices, which could pose upside risks to near-term inflation.
April was a turbulent month for global markets, marked by significant volatility and some investor anxiety. The US equity market experienced a notable sell-off, driven by concerns over President Trump's aggressive tariff policies. The S&P 500 Index and the Nasdaq Composite Index fell sharply, with the Nasdaq nearing bear market territory (a 20% fall from its most recent high).
Equity markets began March on a positive note, with several European indices reaching new highs. However, as the month progressed, US shares declined due to concerns over trade policy and inflation, leading to a mixed performance across regions. For a look at several key themes that lie ahead, here’s ANZ Investments’ Month Ahead for April.
International equity markets were generally higher to begin February, initially shrugging off inflation concerns, while it appeared geopolitical tensions were easing. However, late in February, inflation worries exacerbated, which saw equity markets in the US and Europe retreat, while geopolitical unrest grew. Meanwhile, Asian markets were more mixed with Japan’s market underperforming, while China’s Shanghai Composite Index was on track to finish the month higher.
While equity markets were higher, bond markets were mostly lower. US government bonds fell, in part, due to concerns around the US fiscal deficit and growing debt, while news that Moody’s had downgraded the US credit rating also posed headwinds. New Zealand bonds were also lower, driven by the jump in food prices, which could pose upside risks to near-term inflation.
April was a turbulent month for global markets, marked by significant volatility and some investor anxiety. The US equity market experienced a notable sell-off, driven by concerns over President Trump's aggressive tariff policies. The S&P 500 Index and the Nasdaq Composite Index fell sharply, with the Nasdaq nearing bear market territory (a 20% fall from its most recent high).
Equity markets began March on a positive note, with several European indices reaching new highs. However, as the month progressed, US shares declined due to concerns over trade policy and inflation, leading to a mixed performance across regions. For a look at several key themes that lie ahead, here’s ANZ Investments’ Month Ahead for April.
International equity markets were generally higher to begin February, initially shrugging off inflation concerns, while it appeared geopolitical tensions were easing. However, late in February, inflation worries exacerbated, which saw equity markets in the US and Europe retreat, while geopolitical unrest grew. Meanwhile, Asian markets were more mixed with Japan’s market underperforming, while China’s Shanghai Composite Index was on track to finish the month higher.
Global share markets were higher in November, buoyed by Donald Trump’s US election victory. His election promises included tax cuts and deregulation, which are largely seen as good for businesses. Key share market indices in the US hit all-time highs, continuing their great run this year, while markets down under were also on track to finish the month with solid gains.
September was a volatile month for US equities, with most markets retreating early in the month, before resuming their move higher after the Federal Reserve cut interest rates. October is expected to bring more interest rate cuts from several of the world's central banks, while the US election is a matter of weeks away. With a look at this and more, here's ANZ Investments' Month Ahead.
As at 23 August US equity markets have made gains this month, with the S&P 500 Index up 2.2% (with five days left to go). At one point, however, the broad-based index was down by as much as 6%, as July’s employment report showed unemployment rose to 4.3%, the highest level since October 2021, and the number of jobs created was well below expectations. It raised fears the US economy could be headed for a slowdown and perhaps even a recession.
Welcome to our summer issue of InPrivate, and our first for 2024. I hope you’ve had a restful start to the year.
We’re delighted to welcome George Crosby as our newly appointed Chief Investment Officer for ANZ Investments. For more, see ANZ appoints new CIO.
After a challenging few months, equity and bond markets had a good November, and were on track to finish the month higher thanks in part to economic data that showed pricing pressure in the US has eased. As of 27 November, the S&P 500 was up more than 8% on the month, while closer to home, New Zealand’s NZX 50 and Australia’s ASX 200 were both up about 4%.
Investment markets were mostly weaker in October, led by further declines in bond prices. Equity markets were also generally weaker, as companies struggled with higher borrowing costs and uncertainty around the Israel-Palestine conflict remained. The weakest areas were Europe and Asia, where some indices were down as much as 3%, as of 26 October, while US markets were better performing, but were still on track to end the month lower.
Most global equity and bond markets finished September lower. Despite signs that inflationary pressures are receding, central banks were of the view that monetary policy will need to stay in restrictive territory for longer. As we look ahead to October, the focus in New Zealand will be on the 2023 election, while overseas attention will remain on central bank rhetoric and the impact rapidly rising oil prices could have on the global growth outlook. For more, here’s ANZ Investments’ Month Ahead.
