Market & Portfolio Update: May 2026
Global share markets delivered strong performance in May, with the United States leading the way. The S&P 500 rose approximately 5.3% in local currency (USD) terms, supported by strong corporate earnings results and continued investment in artificial intelligence.
Markets continued to keep a close eye on the tensions in the Middle East during May. Disruption to oil supply routes pushed energy prices higher, adding to inflation pressures across many countries. However, most markets ultimately held up reasonably well over the course of the month as tensions showed some signs of easing toward month end.
In New Zealand, the Reserve Bank held the Official Cash Rate steady at 2.25%, reflecting a difficult balancing act between rising price pressures driven largely by energy costs and a growth outlook that remains subdued.
The New Zealand Government delivered its Budget during the month, focusing on fiscal repair rather than new spending, with targeted investment in health, infrastructure and defence. The Government forecasts a return to surplus by 2028/29, earlier than previously expected.
Finding Your Financial Ikigai: The Japanese Art of a Balanced & Purposeful Life
In a world that often measures success in financial terms, the Japanese concept of Ikigai offers a refreshing perspective. Transcending the boundaries of culture and geography, this philosophy loosely translates as "a reason for being". Ikigai is a convergence of what you love, what you're good at, what the world needs, and what you can be paid for. It's an approach that represents a broader view of prosperity, encompassing joy, purpose, and contentment. As financial advisers, we find this particularly compelling. This article delves deeper into how Ikigai can not only enrich your life but also inform your financial decisions for a more fulfilling journey.
Lifetime Book Club: Intentional by Chris Bailey
In a world full of distractions, half-finished to-do lists, and “I’ll get to that later” energy, this book feels like a helpful nudge back to what really matters.
It’s not about doing more for the sake of it. It’s about doing the right things, with more purpose, more clarity, and a little less chaos.