Market & Portfolio Update - April 2023
Global share markets had another positive month in April, rising 1.6% in local currency terms, as investors were encouraged by the latest round of company financial results. Of the companies that have reported to date, the majority have exceeded earnings expectations, with particular strength seen in large tech names such as Alphabet and Meta.
Following the collapse of two small regional US banks in March, we saw a third US regional bank (First Republic) come under pressure toward the end of April. Ultimately the US regulators took control of First Republic Bank and sold it to the much larger and well-capitalised J.P Morgan.
New Zealand’s annual inflation rate fell from 7.2% to 6.7% in the first quarter of the year. While still well above the Reserve Bank of New Zealand (RBNZ) target rate of 1 – 3%, it was lower than many economists were expecting.
Undeterred by the better-than-expected inflation rate, the RBNZ raised the OCR an additional 0.5%, taking New Zealand’s benchmark interest rate to 5.25%. Current market expectations are for one more hike to 5.5%.
How to Teach Kids About Money: Building Financial Literacy from an Early Age
As parents, we all want our children to grow up confident and capable, especially when it comes to managing their money. Financial literacy is a crucial life skill that’s best nurtured from a young age. Here are some practical tips to help your kids understand the value of money and develop healthy financial habits.
Lifetime Book Club: The Rules of Wealth by Richard Templar
Hello and welcome to another edition of the Lifetime Book Club! This month, we’re exploring The Rules of Wealth by Richard Templar, a guide that lays down the principles for achieving financial success in an accessible and engaging way.