Market & Portfolio Update - June 2024

29 July 2024 by Lifetime in Market Update

Market & Portfolio Update - June 2024

Global share markets had another positive month, ending June up 2.9%. This caps off a strong first half of the year, with global share markets up 16% year to date. The technology and semiconductor sectors have been large contributors to the market gains on the back of robust earnings and rapid increase in spending on data centres and semiconductor chips that help train and produce AI Models.

Bond markets were relatively muted in June, with both New Zealand and global benchmarks relatively flat for the month. Uncertainty remains in the timing of central bank rate cuts, although The Reserve Bank of New Zealand acknowledged inflation may reach their 1-3% target band earlier than expected, potentially indicating a rate cut before the end of 2024.

New Zealand’s first quarter GDP number was released during the month, revealing a 0.2% expansion of the economy. Behind the headline GDP number reveals stark differences between sectors. The utilities sector saw the strongest growth, while the construction industry was weakest and actually contracted during the quarter.    

preview image - Staying Cyber Smart

Staying Cyber Smart

At Lifetime, looking after your financial wellbeing includes helping you stay safe online. Lately, we’ve seen an increase in online scam attempts across the financial sector here in New Zealand, so we thought this was a good time to share a few friendly reminders on how you can stay protected.

30 April 2025 by Tim Bakkenes
preview image - Lifetime Book Club: The Behaviour Gap by Carl Richards

Lifetime Book Club: The Behaviour Gap by Carl Richards

Welcome back to the Lifetime Book Club, this month, we’re taking a closer look at the emotional side of investing with The Behaviour Gap by Carl Richards. It’s a smart, simple, and refreshingly honest book about the biggest threat to your financial success - you.

30 April 2025 by Lifetime