Black Monday

[Balance]

Lots of black Mondays coming according to the Reserve Bank.
https://www.stuff.co.nz/business/121...-biggest-worry
Insurers and non-bank deposit takers, Reserve Bank's biggest worry. But despite banks' good position, the Reserve Bank forecast the resilience of the banking system would be "tested in the coming months". Even accounting for an expected recovery in the second half of the year, the projected annual change in GDP — from about 2 per cent growth before the crisis to an 8 per cent drop afterwards — would be the largest in at least 160 years.

No surprises there.

Cindy & her government have another $20 billion at their disposal to throw at the economy in the next 4 months - just in time for the election.

So expect things to be okay, then watch the real problems to emerge after the election.

[bull....]

some good fomo coming in on the futures now for us trading tonight dji up another 200 already

[clip]

Well we've now broken through the 61.8% fib retracement since the low on march 23rd. For the dji anyway.

[bull....]

Well we've now broken through the 61.8% fib retracement since the low on march 23rd. For the dji anyway.

yep , so do we all now start cheering the new bull market lol. trump says next year will be the best ever for the stock market with him there , guess it could be if they print another few trillion and of course he has to be re-elected first

[iroh]

Lots of black Mondays coming according to the Reserve Bank.
https://www.stuff.co.nz/business/121...-biggest-worry
Insurers and non-bank deposit takers, Reserve Bank's biggest worry. But despite banks' good position, the Reserve Bank forecast the resilience of the banking system would be "tested in the coming months". Even accounting for an expected recovery in the second half of the year, the projected annual change in GDP — from about 2 per cent growth before the crisis to an 8 per cent drop afterwards — would be the largest in at least 160 years.

All of this is if the coronavirus prompts another economic lockdown... And that's only likely to happen now if we start importing cases from overseas again and the government is pretty committed to not letting that happen.

[Panda-NZ-]

Hmm. what are some stocks that benefit most from a higher nzd? I would like to add some of those since im a bit heavy in FPH

[bull....]

Bascand & Orr put.

https://www.interest.co.nz/banking/1...nd-some-savers

thats what i was saying its a war on term deposits to get lower mortgage rates and make you spend all your money. old people are going to subsidise low mortgages for young people


RBNZ Deputy Governor Geoff Bascand says deposit rates could drop to zero and some savers might want to put their money to work elsewhere

old people can put it in bitcoin when they are getting zero rates on term deposit.

[clip]

Old people dont understand and won't buy bitcoin, it's not super complicated but it's not easy to do, or to sell again later when you need cash. Imo

[moka]

All of this is if the coronavirus prompts another economic lockdown... And that's only likely to happen now if we start importing cases from overseas again and the government is pretty committed to not letting that happen.

Welcome to Sharetrader iroh. I see it is your first post. Thanks for joining the discussion.

[bull....]

rally faded for now good run.

key points for tomorrow

China approves controversial national security bill for Hong Kong

https://www.cnbc.com/2020/05/28/chin...hong-kong.html


Trump warns China of strong U.S. response if it imposes new Hong Kong law

https://www.reuters.com/video/watch/idOVCF0PXB3

lets see if hes bark and no bite as china is now asserting itself more. seems funny the UK is not more involved since they signed the handover but i guess they a such a declining power now its not surprising