Market & Portfolio Update – October 2019
Market & Portfolio Update – October 2019
October provided only modest changes in value for most diversified portfolios. While portfolios gained from allocations to global shares, lower returns on local shares and fixed interest investments kept performance relatively static after solid gains in the year so far.
The United States market was a strong performer amongst the more developed countries, benefiting from cooling trade war tension. The market also continued to benefit from central bank policy aimed at supporting growth, with the Federal Reserve lowering its cash rate to 1.5% from 1.75% at the end of the month.
In contrast, it was a softer month for New Zealand shares, driven by lower share prices on the listed electricity generators. They were impacted by the New Zealand Aluminium Smelter announcing a review of the Tiwai Point smelter near Bluff, with a possible closure on the table. The smelter consumes approximately 13% of NZ’s electricity and is likely trying to pressure the electricity generators into a lower price for the electricity it consumes.
Disclaimer: This article has been prepared for the purpose of providing general information, without taking into consideration any particular investor’s objectives, financial situation or needs. Any opinions contained in it are held as at the report date and are subject to change without notice.
Market & Portfolio Update: July 2026
Early in the month, renewed tension in the Middle East briefly pushed Brent crude oil above US$100 a barrel, which lifted energy prices and brought inflation concerns back into focus.
Lifetime Book Club: Paradox of Choice by Barry Schwartz
In The Paradox of Choice, psychologist Barry Schwartz explores a curious feature of modern life: while freedom and choice are undoubtedly valuable, there can come a point where having more options makes decisions harder, increases our expectations and leaves us questioning whether we made the right choice at all.
From what to buy and where to eat to decisions about careers, relationships and money, Schwartz looks at the hidden mental cost of constantly comparing our options – and makes the case that sometimes, simplifying our choices can leave us better off.