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Speaker 1: So the US FED is meeting later this week. The

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Speaker 1: question as to whether or not the Feed is going

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Speaker 1: to cut interest rates a lot of pressure, of course,

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Speaker 1: coming from the White House, and Shane solely from Harbord

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Speaker 1: Asset Management is with us this evening. So are they

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Speaker 1: going to cut US official interest rates?

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Speaker 2: Shane can know a where, Jack, Look, investment markets are

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Speaker 2: expecting us, through a reserve that's the US Central Bank

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Speaker 2: to relieve rates unchanged when it meets Wednesday, and the

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Speaker 2: announcement will come out Thursday. Despite the pressure you've talked

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Speaker 2: about from Prison Trump. FEDS cut rates three times since

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Speaker 2: September on the back of your weeker US job markets.

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Speaker 2: So the rates around three and a half to three

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Speaker 2: point seventy five. But now we're seeing US growth rallibly strong,

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Speaker 2: unemployment rate that's relaively low, inflation that's above the Fed's

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Speaker 2: two percent target. So pause and rates kind of makes

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Speaker 2: more sense than cutting at the moment. But look, Jack,

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Speaker 2: we're going to see mister Powell, Chairpowe come under more

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Speaker 2: pressure from Prison Trump on this cut. He's going to

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Speaker 2: have to defend the feds independence again. But the economic

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Speaker 2: data just doesn't support it. Sport cuts the moment.

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Speaker 1: Well, he's been quite effective defending the independence and the

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Speaker 1: feed so far, and a lot of leaders are trying

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Speaker 1: to take a bit of a leaf out of J.

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Speaker 1: Powell's book at the moment. But be very interesting to

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Speaker 1: see how we react this week. Of course, our latest

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Speaker 1: inflation data was a bit higher than expected, just over

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Speaker 1: three percent, so some of the forecasters are bringing forward

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Speaker 1: expectations of an official rate increase in the fourth quarter

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Speaker 1: of this year as opposed to Q one of twenty

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Speaker 1: twenty seven. So how have investment markets reacted.

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Speaker 2: Yeah, look, we've actually seen seen the markets are actually

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Speaker 2: pricing and a reserve bank rate increase by September twenty

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Speaker 2: six now, and actually see that official cash rate in

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Speaker 2: three point one three percent in May twenty seven. In

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Speaker 2: terms of what it's done for financial markets investment markets,

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Speaker 2: we've seen entrance rates pretty much move across the curve

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Speaker 2: since that data is that what that means is two

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Speaker 2: year in newsion government bonds they're up to three point

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Speaker 2: three five percent, ten year government bonds at four point

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Speaker 2: six two that's back to level was where they were

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Speaker 2: back in July. With the rizero bank. New Zeale really

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Speaker 2: put its jandle down on cutting rates. What it means

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Speaker 2: for you and Ijack is we're going to see high

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Speaker 2: interest costs for the government, businesses, consumers. We've also seen

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Speaker 2: a bit of a sell off and had the more

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Speaker 2: interest rates since it departs in Zeon Shear market. Since

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Speaker 2: that inflation is lest today New Zealon Sar market was

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Speaker 2: only as up zero point one percent. Quite highly impacted trading,

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Speaker 2: so not a lot c there today, but certainly the

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Speaker 2: market's been a little bit weak off the back of

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Speaker 2: that higher inflation.

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Speaker 1: Several commentators have called out a bit of a recovery

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Speaker 1: in the New Zealand economy. They say it's begun, it's underway.

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Speaker 1: What's coming up this week to support those expectations.

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Speaker 2: Yeah, Later this week we've got the New Zealand Business

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Speaker 2: Conference and the AzID Activity outlock for January that's out

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Speaker 2: on Thursday, and we've also got the ains in New

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Speaker 2: Zeon consumer Confidence held on Friday, that's for January as well.

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Speaker 2: For both those sets of data, we've actually seen a

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Speaker 2: bit of a reduction in what's called the now casting

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Speaker 2: GDP forecasts for the fourth quarter and nin kid is

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Speaker 2: actually almost half chacked down to zero point five percent.

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Speaker 2: For the quarter from the zero point nine, mainly on

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Speaker 2: cards spinning. So this as in data that comes out

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Speaker 2: Tuesday Friday, and it's going to be really important to

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Speaker 2: give us a data point of for invested and for

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Speaker 2: police and makers is to within his own economy is

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Speaker 2: actually getting some traction or it's the sort of one step,

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Speaker 2: two step forward and then one back modest improvement.

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Speaker 1: So silver prices rose above US one hundred bucks an

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Speaker 1: ounce for the first time ever on Friday.

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Speaker 2: Why yeah, yeah, it was quite a stunning move. And

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Speaker 2: silver actually has gone through one hundred and eight dollars

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Speaker 2: today in Asian trading, and gold that's also gone through

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Speaker 2: a record as well, gone to five thousand and seventy

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Speaker 2: five dollars US announce. It's all about investors piling into

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Speaker 2: these safe havens amongst this sort of duopolitical terminal tumor

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Speaker 2: we're seeing globally and set of expectations of US interest

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Speaker 2: rate movements. So if the fear doesn't come, maybe we

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Speaker 2: see a bit of back off. But certainly we've seen

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Speaker 2: a bit more rolling of markets, with Japanese bonds particularly

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Speaker 2: being a bit of a role. It's all was actually

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Speaker 2: up two hundred percent in the past year. Issue's a

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Speaker 2: bit of a challenge in terms of gaining morse, getting

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Speaker 2: the scale to refine the metal, and the supply sort

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Speaker 2: of just so yeah, it's been on a long run.

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Speaker 1: And finally Shane Netflix tested its live ambition live streaming

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Speaker 1: a skyscraper climb from one of the world's best rock

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Speaker 1: climbers one hundred and one Stories. He climbed in Taipei

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Speaker 1: live on Netflix. No ropes, attached millions of people tuning

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Speaker 1: in worldwide. Does it represent a new kind of disruption

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Speaker 1: for the media industry.

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Speaker 2: Well, look, there's gut Alex Hanold. He's a prety of

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Speaker 2: a legend and climber. He actually climbed this building in

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Speaker 2: an hour and get you one minutes. And there's a

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Speaker 2: key word at the universe it wor was sick. All right. Look,

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Speaker 2: I think it really highlights netflix ongoing push into traditional media.

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Speaker 2: They talk about live media program as a way to

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Speaker 2: retain existing subscribers and to catch a new subscribers. They

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Speaker 2: talk about they've done two hundred live events, but most

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Speaker 2: of it's been things like comedy and but a wrestling

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Speaker 2: mainly target at US audiences. This is this sort of

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Speaker 2: step out into things to appeal to the right wider

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Speaker 2: world to YEA certainly be creeping into that traditional media,

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Speaker 2: but you can have that client.

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Speaker 1: I can tell you that, Yeah, I love Alex Honnell.

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Speaker 1: Couldn't watch it, couldn't watch it, love Free Solo, couldn't

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Speaker 1: watch this though it was a step too far from me.

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Speaker 1: Thanks so much, Shane, Appreciate your time. Shane Soley from

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Speaker 1: Harbor Asset Management.

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Speaker 2: For more from Hither Duplessy Allen Drive, listen live to

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Speaker 2: news talks. It'd be from four pm weekdays, or follow

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Speaker 2: the podcast on iHeartRadio.