Isn't the rule "Sell in May and go away"?
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Isn't the rule "Sell in May and go away"?
Looking at the US overnight it should be a very Green Monday this coming week, US market is closed on Monday so no lead for Tuesday.
I would anticipate some positivity creeping back into the equities market, now that RBNZ has shown it is serious about tackling inflation (the enemy of equities), despite the effect on economic growth going backwards. A decisive move by RBNZ of 50bp hike to 2% OCR with talk of going to 3.5% and even a mention of 4%, effectively brings forward the inflation peak projections from mid-late 2024, to mid 2023. As the growth in inflation begins to slow, top out, and turn over, the optimism heightens and here we are now looking at many very high quality equities having shed large percentages of market cap. The buyers market will re-emerge, perhaps surprisingly quickly.
the banks starting to raise mortgages :scared: em i mean increase there margins ( wholesale rates down so cant blame them ) recession next yr once those rates come off late this yr.
https://www.nzherald.co.nz/business/...UC7DSCPDXLWQE/
And the oil price is up as well. We are in a "climate emergency" so most people will be pretty happy about surging oil prices I guess. It's an opportunity for them to take a walking bus to work and their next overseas holiday.
SHANGHAI, May 28 (Reuters) - The Chinese metropolis of Shanghai inched further towards a gradual reopening from two months of grinding COVID-19 lockdown, while officials in Beijing prepared to ease curbs in parts of the capital, saying on Saturday its outbreak was under control
https://www.reuters.com/business/hea...27-2022-05-28/
that keep the imported inflation in NZ rising and petrol heading to $4 as the price of oil is rising on the news
Latest ANZ Business Outlook shows rapidly deteriorating sentiment for residential construction, while inflation expectations are still 'far too high'
https://www.interest.co.nz/business/...nt-residential
cracks me up up how they keep going on about how inflation will top out soon , it very may well but how far will it fall ? probably not back to 1-2% in a hurry
Diffence between bond rates and inflation suggest it's built in all ready so here's hoping for a soft landing.
Re construction ,without gib you can't build houses for one.
Headline in ft.com - Hedge funds turn more bearish on stocks even after rough start to 2022
And overnight on US markets it seems good news (jobs) is bad news (markets)