Market & Portfolio Update - July 2022
Prices of goods and services have continued to rise, with inflation numbers exceeding expectations around the world. In New Zealand we hit a 30-year high of 7.3%. Since this was released there has been a drop in a wide range of commodity prices, including oil, which has given hope to investors that we may be past the peak of inflation.
Central banks continue to raise interest rates in an effort to slow down business and consumer spending and to bring inflation back to more sustainable levels. NZ, Europe and US are amongst a long list of central banks that increased rates by another 0.50%-0.75% in the last month.
Labour markets remain historically tight, helping the perseverance of the economy. The most recent data shows unemployment in New Zealand at 3.3%, considerably lower than the 5% average that has been seen over the last 15 years.
Lifetime Book Club: The Almanack of Naval Ravikant by Eric Jorgenson
In a world that often confuses busyness with success and income with wealth, this book offers a different perspective. One that suggests true wealth is freedom. Freedom over your time. Freedom over your decisions. Freedom to live life on your own terms.
Maximise Your Miles: Financial Tips for Frequent Flyers
Whether you’re a young Kiwi planning your OE (overseas experience), a family about to embark on that long-awaited trip to Disneyland, or a seasoned business traveller hopping between meetings in Singapore and Sydney, the excitement of travel is unbeatable. But with every adventure comes a bit of financial planning to ensure your holiday memories aren’t clouded by an unexpected hit to the wallet.