Market & Portfolio Update - October 2021
Global share markets rebounded and had their best month of the year – up 5.5% on average. A mix of positive economic data and company announcements continued to give investors confidence in the current cycle. Demand from consumers continues to be strong and supply chains are struggling to keep up, while also facing the challenges of Covid-disruptions.
Bonds prices fell slightly over the month as developed economies saw short term interest rates rise as inflation continues to surpass expectations. In New Zealand, the RBNZ raised the OCR by 0.25%, and market expectations are for a further increase in November. Similarly, central banks in England, Canada, and Australia are reducing their stimulus programmes and are hinting at raising interest rates to combat rising inflation.
The New Zealand share market ended the month down 1.3%, despite economic indicators remaining extremely strong. New Zealand unemployment rate fell to just 3.4% - equalling the reading in December 2007 and the lowest level since the early 1980s.
Reflecting on 2021
Kiwis won’t forget 2021, the year of sudden change to the way we live in New Zealand following the outbreak of Covid and the lengthy lockdowns that followed for some, but not others.
Top tips to stay social when distant, this festive season.
This is the time of year for family, friends and food - but what can you do to feel close and connect to your loved ones when they’re overseas, locked down or isolating? Here’s a few tips on staying social when distant.