Market & Portfolio Update - October 2022
October provided a much needed reprieve for global share markets, rising 7.2% (in local currency terms). The month saw a number of companies report their latest earnings numbers, which at a broad level, were better than expected.
The NZ share market ended the month up 2.5%. Performance of the listed travel-related companies was particularly strong, with Tourism Holdings and Auckland International Airport up 32% and 7%, respectively. During the month, both companies upgraded their profit guidance due to increased certainty on revenues and tourism numbers.
The latest data shows New Zealand’s annual inflation rate to the end of September was 7.2%. This was a slight moderation from 7.3% in June but remains well above the RBNZ’s 1-3% target. Market expectations are now for the RBNZ to progressively raise the OCR to around 5% by May next year (currently 3.5%).
The Biggest Mistake Existing Property Investors Make
Are you asset-rich but cash-poor? This is very common for a lot of existing property investors who purchased before or during the last property boom and experienced significant gains in property values.
Using Your Home to Grow Your Wealth: How to Leverage Equity to Buy a Rental
You have worked hard to buy your home. Paid the mortgage, watched the value rise, and chipped away at the balance over time. Now you might be wondering: can this be the foundation for something more?
If you have built up equity in your home, the answer might be yes.