oof, very glad I closed my 3x SP500 short yesterday, it's not having a good time today.. down 15%
https://www.marketwatch.com/investing/fund/spxs
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oof, very glad I closed my 3x SP500 short yesterday, it's not having a good time today.. down 15%
https://www.marketwatch.com/investing/fund/spxs
NZX has opened strong this morning. Good to see some signs of exuberance on a bad weather day. Maybe the US elections outcome, the retreat from Kherson, and some quite reasonable reporting so far for the 30 Sept half/full year, is helping?
Nice to see a strong rally today - NZX50 up ~2% - off a slightly milder US CPI reading. Should enjoy that.
But NZ has its own issues and drivers. Food price inflation a big one and this mornings StatsNZ was a bit of a shock - up 10.1%
https://www.stats.govt.nz/news/annua...-10-1-percent/
Food prices are notoriously seasonal so when adjusting for these it was even more disappointing to see October's seasonally adjusted food prices went up 1.8% just from September! Off the charts high.
Should do a food tax cut instead of a petrol tax cut.
Strange for an agricultural nation to charge gst on food - it's something we should encourage, rather than have even more petrol use.
So do you apply GST on rotisserie chickens then? If so what to do about KFC? Is a premade salad with dressing considered fruit\veg? What about tinned peaches? It gets complicated really quickly which is why we went the universal route.