1 00:00:00,360 --> 00:00:03,480 Speaker 1: Listen on another subject altogether. Mark Listener from Craig's Investment 2 00:00:03,520 --> 00:00:04,400 Speaker 1: Partners is with us. 3 00:00:04,400 --> 00:00:06,800 Speaker 2: Hey, Mark, afternoon, how are you. 4 00:00:06,880 --> 00:00:09,039 Speaker 1: I'm well? Thank you. Now listen, Mike. I'm fascinated by 5 00:00:09,080 --> 00:00:12,000 Speaker 1: this exuberance in the market post Trump's victory. Is this 6 00:00:12,039 --> 00:00:12,640 Speaker 1: going to last? 7 00:00:13,960 --> 00:00:16,239 Speaker 2: I think over the short term, yes, it will. I 8 00:00:16,280 --> 00:00:19,319 Speaker 2: mean markets are in a very good mood. They like 9 00:00:19,480 --> 00:00:23,040 Speaker 2: Trump because he is pro growth, he's business friendly, his 10 00:00:23,239 --> 00:00:28,080 Speaker 2: anti regulation. And when you also combine that with inflation 11 00:00:28,240 --> 00:00:30,240 Speaker 2: that's now back in the twos and you've got the 12 00:00:30,240 --> 00:00:34,000 Speaker 2: Federal Reserve cutting interest rates, the US economy is holding 13 00:00:34,040 --> 00:00:37,920 Speaker 2: together quite well. I could see the US market continuing 14 00:00:37,960 --> 00:00:39,279 Speaker 2: the strength into year end. 15 00:00:40,120 --> 00:00:43,080 Speaker 1: Do you think though, that he means he spells the 16 00:00:43,159 --> 00:00:45,720 Speaker 1: end of the rate cuts because this is inflationary what 17 00:00:45,760 --> 00:00:46,440 Speaker 1: he's planning to do. 18 00:00:47,960 --> 00:00:51,159 Speaker 2: Oh, it definitely is going to put the Federal Reserve 19 00:00:51,159 --> 00:00:54,360 Speaker 2: in a bit of a bind. Jerome Powell just did 20 00:00:54,400 --> 00:00:58,120 Speaker 2: not want to talk about politics at all on Friday morning, 21 00:00:58,200 --> 00:01:01,680 Speaker 2: but he won't get off that like next time. And 22 00:01:02,040 --> 00:01:05,400 Speaker 2: financial markets now see, you know, it is pretty much 23 00:01:05,440 --> 00:01:07,560 Speaker 2: a fifty to fifty care whether he cuts again in 24 00:01:07,600 --> 00:01:11,880 Speaker 2: December or whether they pause so I think the part 25 00:01:11,959 --> 00:01:14,600 Speaker 2: of interest rates in the US are still down. But yeah, 26 00:01:14,640 --> 00:01:18,480 Speaker 2: markets are absolutely wondering about inflation, wondering about debt levels, 27 00:01:18,959 --> 00:01:21,120 Speaker 2: and I think we will see a return to that 28 00:01:21,360 --> 00:01:25,680 Speaker 2: tension between Trump and Power that we saw a few 29 00:01:25,760 --> 00:01:28,200 Speaker 2: years back. So yeah, it remains to be seen, but 30 00:01:28,240 --> 00:01:32,480 Speaker 2: there's definitely going to be an interesting, interesting dynamic between 31 00:01:32,520 --> 00:01:32,759 Speaker 2: the two. 32 00:01:32,959 --> 00:01:35,440 Speaker 1: Yeah, totally. Now listen on China, Okay, we've got the 33 00:01:35,440 --> 00:01:37,440 Speaker 1: stimulus package. Is it's going to be enough because I 34 00:01:37,640 --> 00:01:39,760 Speaker 1: had I mean, the markets have not reacted well to 35 00:01:39,800 --> 00:01:41,600 Speaker 1: it today, are they No? 36 00:01:41,959 --> 00:01:45,679 Speaker 2: Markets a little underwhelmed. We also had some inflation figures 37 00:01:45,720 --> 00:01:48,240 Speaker 2: out of China over the weekend and they were too low. 38 00:01:48,360 --> 00:01:50,640 Speaker 2: You know, rest of the world has an inflation that's 39 00:01:50,640 --> 00:01:53,560 Speaker 2: too high, Chinese inflation too low. So they're trying to 40 00:01:53,600 --> 00:01:57,240 Speaker 2: actually get a bit of inflation stimulus a little underwhelming. 41 00:01:57,800 --> 00:01:59,640 Speaker 2: I just don't know if it's going to be enough 42 00:01:59,640 --> 00:02:01,840 Speaker 2: to deal with the massive issues they have around the 43 00:02:01,880 --> 00:02:04,880 Speaker 2: property sector and some of their other challenges. And now 44 00:02:04,920 --> 00:02:08,080 Speaker 2: we're also thinking ahead to next year and we're thinking, well, geez, 45 00:02:08,120 --> 00:02:10,320 Speaker 2: what will Trump do when he gets into office in 46 00:02:10,400 --> 00:02:14,240 Speaker 2: terms of tariffs and so forth. That China will be 47 00:02:14,400 --> 00:02:17,920 Speaker 2: right in the firing line of so I think there 48 00:02:17,960 --> 00:02:20,760 Speaker 2: are still some big question marks around the Chinese economy 49 00:02:20,800 --> 00:02:21,800 Speaker 2: over the next little while. 50 00:02:22,360 --> 00:02:25,680 Speaker 1: How about that dairy payout upgrade though for us? 51 00:02:26,400 --> 00:02:29,560 Speaker 2: Yeah, fantastic, isn't it? And I guess the positive news 52 00:02:29,800 --> 00:02:32,239 Speaker 2: is that we are selling the right sort of products 53 00:02:32,280 --> 00:02:35,200 Speaker 2: to China. You look on the ASX today and it's 54 00:02:35,240 --> 00:02:38,280 Speaker 2: the mining companies are all down, whether it's BHP, Rio 55 00:02:38,400 --> 00:02:41,640 Speaker 2: and so forth, But dairy prices are up what eighteen 56 00:02:41,720 --> 00:02:45,120 Speaker 2: percent this year? And now the payout having been bumped 57 00:02:45,200 --> 00:02:47,720 Speaker 2: up from nine dollars to nine to fifty, that's the 58 00:02:47,760 --> 00:02:51,400 Speaker 2: highest of all time. The previous high was nine dollars thirty. 59 00:02:51,440 --> 00:02:54,680 Speaker 2: I think that was in the twenty one twenty two seasons. 60 00:02:54,680 --> 00:02:58,359 Speaker 2: So nine to fifty best ever payout. You can't be 61 00:02:58,440 --> 00:02:59,720 Speaker 2: unhappy about that totally. 62 00:03:00,120 --> 00:03:02,160 Speaker 1: We've got a whole bunch of corporate releases to watch 63 00:03:02,160 --> 00:03:04,440 Speaker 1: this week, but you're picking Mainfreight is the key one? 64 00:03:04,520 --> 00:03:04,760 Speaker 1: Is it? 65 00:03:05,600 --> 00:03:09,840 Speaker 2: Oh? Just such a high profile business, well owned, well followed. 66 00:03:09,840 --> 00:03:12,760 Speaker 2: You know, everyone loves main Freight and everyone owns it. 67 00:03:12,800 --> 00:03:14,800 Speaker 2: You know it'll be in everyone's key we saber account. 68 00:03:14,919 --> 00:03:17,799 Speaker 2: So it's not the only company reporting here. You've got 69 00:03:17,800 --> 00:03:20,960 Speaker 2: in for two, you've got Goodman Property, a couple of others. 70 00:03:21,040 --> 00:03:24,200 Speaker 2: But main Freight is just important because it's so big 71 00:03:24,240 --> 00:03:27,960 Speaker 2: and so widely followed, and it's sort of right on 72 00:03:28,000 --> 00:03:31,720 Speaker 2: the cusp of global growth because it's in the logistics business, 73 00:03:31,800 --> 00:03:35,840 Speaker 2: transport big operations, not just here in New Zealand and 74 00:03:35,880 --> 00:03:38,960 Speaker 2: in Australia, but also in Europe and Asia, in the US. 75 00:03:39,000 --> 00:03:43,000 Speaker 2: So you always learn a lot from the main Freight result. 76 00:03:43,120 --> 00:03:45,880 Speaker 2: And I think given what we're now seeing in terms 77 00:03:45,960 --> 00:03:49,400 Speaker 2: of the geopolitical environment and what that could mean for 78 00:03:50,040 --> 00:03:52,760 Speaker 2: tariffs and the costs of moving things around, I think 79 00:03:52,760 --> 00:03:57,600 Speaker 2: it would be a really interesting result to monitor. On Wednesday, Mark, 80 00:03:57,640 --> 00:03:58,280 Speaker 2: it's good to talk to you. 81 00:03:58,320 --> 00:03:59,920 Speaker 1: Thank you so much. Appreciate it mate, This Mark List 82 00:04:00,040 --> 00:04:03,040 Speaker 1: Craig's Investment Partners, Shane Soli's on holiday or something like that. 83 00:04:03,080 --> 00:04:05,640 Speaker 1: Were called in sick or truant, but I don't know. 84 00:04:05,760 --> 00:04:08,360 Speaker 1: But anyway, Mark did a good job, didn't they. For 85 00:04:08,440 --> 00:04:11,720 Speaker 1: more from Hither Duplessy Allen Drive, Listen live to news 86 00:04:11,800 --> 00:04:14,680 Speaker 1: talks it'd be from four pm weekdays, or follow the 87 00:04:14,720 --> 00:04:16,320 Speaker 1: podcast on iHeartRadio.