Market Commentary 1 January 2024 - 31 March 2024
With existing economic and geopolitical events baked into asset prices the market continues to focus on inflation. Globally Central Banks have proceeded with caution over the quarter yet despite some general easing of inflationary pressures pockets remain. The Bank of Japan recently raised interest rates for the first time in 17 years. In terms of performance international markets delivered another good quarter as did emerging markets with Australasian markets delivering more modest returns. Fixed interest returns were more subdued but still look good over the last year.
Global activity looked positive particularly in the US with consumer spending underpinning better than expected growth. The Eurozone was slower but there are good signs in manufacturing. In NZ more companies missed their profit expectations than achieved them and with negative GDP recorded in the December quarter the RBNZ recently left the OCR unchanged.
For long-standing investors periods of swings in the performance of investing is well understood. If however, this is causing concern, or you would simply like to discuss your current plan please feel free to contact your Lifetime Adviser.