Market & Portfolio Update - January 2023
Global share markets got off to a strong start to the year, rising 6.5% in local currency terms. Investors were encouraged by a sixth consecutive monthly fall in US year-on-year inflation in December. At 6.5%, US inflation is still above target but is down meaningfully from its peak of 9.1% in June.
Encouraging news on inflation led investors to expect fewer interest rate hikes from central banks going forward. This supported the returns of bond markets. Global and New Zealand bond markets rose around 2% – quite decent returns when it comes to bond investments. These returns provided some reprieve for bond investors after higher interest rates have weighed on bond returns throughout much of 2022.
Lifetime Book Club: Stillness is the Key by Ryan Holiday
In a world that rewards speed, noise, and constant movement, this book offers a different perspective. One that suggests clarity, better decisions, and a more meaningful life do not come from doing more. They come from slowing down.
This is not a productivity hack or a call to retreat from real life. It is a thoughtful reminder that stillness is not weakness. It is a strength.
Mastering the New Year: The Psychology, Power, and Precision of Goal Setting
For many, the beginning of a new year signifies a fresh start, a blank canvas upon which we can paint our aspirations and ambitions. Goal setting is not just a yearly ritual; it is a powerful tool that empowers individuals to strive for personal growth, achieve milestones, and lead more fulfilling lives.