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Speaker 1: US FED Reserve Chair j Powell has said that the

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Speaker 1: time has come for interest rate cuts. He's speaking at

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Speaker 1: the fed's annual Jackson Hole Retreat, and Shane Solely from

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Speaker 1: Harbor Asset Management is with us on the say, Shane,

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Speaker 1: how did the markets react to this? How did he sound?

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Speaker 1: What was the tone?

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Speaker 2: Well, the time has come. Jay has certainly pulled the

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Speaker 2: pen on this, and he said, look the upside rest inflation,

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Speaker 2: they're diminished, so we're actually seeing a deflation disinflationary period

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Speaker 2: of time. And he's more worried about this down so

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Speaker 2: risk to the employment in the US. So he didn't

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Speaker 2: commit to a particular pace of rate cuts. So that's

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Speaker 2: left market's a little bit wary the timing and the

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Speaker 2: pace that's to be depending on data. It's always data

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Speaker 2: dependent when it comes to central bankers. But overall it

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Speaker 2: struck the right table with markets. We saw interest rates

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Speaker 2: fall across the board, and we saw share markets up

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Speaker 2: and the U. S. Dollar down, and I think we

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Speaker 2: really have seen something the market had expected. But this

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Speaker 2: confirmation here. So little bit more data out this week,

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Speaker 2: sort in the next few days, and some house price

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Speaker 2: data is some consumer confidence data, but it's going to

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Speaker 2: put more fuel on the when rather than if and

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Speaker 2: how much.

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Speaker 1: Man in New Zealand, it has been busy with all

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Speaker 1: of the companies reporting in the last week or so.

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Speaker 1: You seeing any trends here in what you're actually witnessing.

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Speaker 2: Yeah, Unfortunately, we're seeing more misses against expectations. The companies

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Speaker 2: are coming in slightly lower than expected than beats. But look,

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Speaker 2: it's a feeling there's a little bit of a green

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Speaker 2: shoots out there. We've seen a couple of big misses

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Speaker 2: from companies like Fletcher Building in spar The literacity companies

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Speaker 2: obviously had a bit of an impact from this dry year.

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Speaker 2: But there's some green shoots coming through, a bit of

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Speaker 2: costs peaking and certainly some companies starting to show some

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Speaker 2: confidence in terms of talking about the future in terms

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Speaker 2: of growth, a couple talking about buying back their own shares.

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Speaker 2: Even so, there is a sort of a feeling we're

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Speaker 2: bounced along the bottom. It's a bit hazy, but certainly

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Speaker 2: this sort of suggestion we're seeing the worst.

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Speaker 1: Of things, and then this upcoming week we've got a

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Speaker 1: whole bunch as well. I think a New Zealand's probably

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Speaker 1: going to be one of the big ones and probably

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Speaker 1: not that flash. What else is going on?

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Speaker 2: Yeah, look we've got another thirty end companies reporting this week.

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Speaker 2: We had Cora, the Lions company out today, better result

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Speaker 2: than expected driven Sorry that actually result wasn't That wasn't better,

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Speaker 2: but they provided a high dividend income payment which saw

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Speaker 2: the stock price cup nine percent. A couple of others

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Speaker 2: out today, Property for Ministry, steal and Tube Somerset all

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Speaker 2: online and they were just noting a bit of a

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Speaker 2: caution around the recovery in the border of New Zealand economy. Tomorrow,

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Speaker 2: I've got Media Company in Adme, Tourism Holdings, the Victor

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Speaker 2: of Vulcan Steel Wednesday, Meridian Precinct Properties Scales and then

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Speaker 2: Thursdays you say in New Zeon and Heartland groups. So

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Speaker 2: assuming another bunch of companies, some exposed to domestic economy,

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Speaker 2: some less so. But you know, with fingers christ we

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Speaker 2: might be seeing the bottom of the evenings downgrade cycle

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Speaker 2: for New Zealand.

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Speaker 1: Yeah, here's hoping. Shane. It's good to talk to you.

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Speaker 1: As always, We'll talk to you next week again. Look

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Speaker 1: after yourself, Shane. Solely harbor Assic Management.

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