1 00:00:00,080 --> 00:00:03,320 Speaker 1: Shane solely harbor asset management is with us right now. Hey, Shane, 2 00:00:03,840 --> 00:00:06,720 Speaker 1: get out either now, Shane. Why have the capital markets 3 00:00:06,720 --> 00:00:07,720 Speaker 1: started to chill out? 4 00:00:08,200 --> 00:00:10,080 Speaker 2: Yeah? Yeah, we've actually seen a bit of a recovery. 5 00:00:10,160 --> 00:00:14,240 Speaker 2: Excuse me? Who were shares back up? A pretty solid week. 6 00:00:14,280 --> 00:00:16,279 Speaker 2: Last week actually saw the US the S and P 7 00:00:16,320 --> 00:00:18,880 Speaker 2: five hundred, that's the main one people talk about four 8 00:00:18,880 --> 00:00:21,640 Speaker 2: point six percent tech market Tech, the NAIs deck up 9 00:00:21,680 --> 00:00:26,320 Speaker 2: six points in in big balance, even mister muss Tessler 10 00:00:26,400 --> 00:00:29,560 Speaker 2: upper eighteen percent. So it's all about some of this 11 00:00:29,760 --> 00:00:34,080 Speaker 2: stepping away in tariff. So this moderation and tariffs is 12 00:00:34,120 --> 00:00:36,520 Speaker 2: stepping off the heat from both the US and China. 13 00:00:36,920 --> 00:00:38,839 Speaker 2: Although offering mister Trump, he keeps on saying, hey, look 14 00:00:38,840 --> 00:00:42,000 Speaker 2: we're going to drop tariffs to China, but with something 15 00:00:42,040 --> 00:00:45,360 Speaker 2: substantial in return. So the markets like that. Markets are 16 00:00:45,320 --> 00:00:48,320 Speaker 2: also like the fact we had some pretty good profit 17 00:00:48,360 --> 00:00:50,880 Speaker 2: results out of the US companies, so they've been better 18 00:00:51,240 --> 00:00:53,320 Speaker 2: and the outlook's been better. But it's really about this 19 00:00:53,400 --> 00:00:58,000 Speaker 2: tariff news been quieter. They're stepping away the US market, 20 00:00:58,040 --> 00:00:59,800 Speaker 2: the big S and P five hundred only down one 21 00:01:00,160 --> 00:01:03,680 Speaker 2: percent month today, the naisdack, the tech market up on 22 00:01:03,440 --> 00:01:05,319 Speaker 2: the on the month. Not many people to pick that. 23 00:01:06,000 --> 00:01:08,479 Speaker 2: And our market here today was up point seventy percent, 24 00:01:08,520 --> 00:01:11,000 Speaker 2: so we're only down one point four percent. So yeah, 25 00:01:11,040 --> 00:01:13,560 Speaker 2: markets are seeing things. We might have seen the worst. 26 00:01:13,800 --> 00:01:16,400 Speaker 1: But were there a couple of share price moves here 27 00:01:16,440 --> 00:01:19,760 Speaker 1: in New Zealand that that reflected what's going on with tariffs? 28 00:01:20,080 --> 00:01:23,200 Speaker 2: Yeah, we're not immune. And if you've nailed it, the 29 00:01:23,240 --> 00:01:26,280 Speaker 2: healthcare stock, Fish and Park with health care and she 30 00:01:26,440 --> 00:01:28,319 Speaker 2: was up today. Is a bit of a delayed reaction 31 00:01:28,440 --> 00:01:31,200 Speaker 2: to one of its comparable businesses, ResMed, which is a 32 00:01:31,280 --> 00:01:35,320 Speaker 2: US business. They had a better result last thusday and 33 00:01:35,480 --> 00:01:38,520 Speaker 2: they specifically talked about some of their products being exempt 34 00:01:38,760 --> 00:01:41,520 Speaker 2: from some of the potential US government tariffs and they 35 00:01:41,640 --> 00:01:43,880 Speaker 2: had pretty good demands. So the market's been a bit 36 00:01:43,920 --> 00:01:46,000 Speaker 2: delayed and picking that up, but it has seen Hey 37 00:01:46,040 --> 00:01:49,080 Speaker 2: maybe fishing bikele can be exempt on tariffs as well. 38 00:01:49,160 --> 00:01:52,320 Speaker 2: Particularly it's mixing and production and demand stays good in 39 00:01:52,320 --> 00:01:55,760 Speaker 2: contrast with main freight. This is the freight we have logistics. 40 00:01:55,760 --> 00:01:59,000 Speaker 2: Something great business. But week today and the share price 41 00:01:59,200 --> 00:02:02,920 Speaker 2: fell there was definitely one of its US comparator companies 42 00:02:03,000 --> 00:02:05,400 Speaker 2: was a bit weak, just highlighting this slow down and 43 00:02:05,480 --> 00:02:08,600 Speaker 2: the US economy as trade tariffs started the hit, so 44 00:02:08,720 --> 00:02:10,560 Speaker 2: not surprising to see a bit of weakness there. And 45 00:02:10,560 --> 00:02:13,200 Speaker 2: then Delegates, the producer of some of the New Zealand's 46 00:02:13,400 --> 00:02:16,840 Speaker 2: the Servinyon Blanc, came out with a downgrade, just saying, hey, 47 00:02:16,840 --> 00:02:20,239 Speaker 2: look this, we're uncertain about four past growth given this 48 00:02:20,400 --> 00:02:23,160 Speaker 2: ten percent increase in tariffs. Good news there, of course, 49 00:02:23,520 --> 00:02:26,640 Speaker 2: a really good harvest, good quality, good volume, So plenty 50 00:02:26,639 --> 00:02:27,880 Speaker 2: of Sevinyon Blanc to go around. 51 00:02:28,040 --> 00:02:29,600 Speaker 1: What's coming up this week that we should be watching 52 00:02:29,600 --> 00:02:29,920 Speaker 1: out for. 53 00:02:30,560 --> 00:02:34,120 Speaker 2: Yeah, pretty busy week here. We've got the aims and 54 00:02:34,160 --> 00:02:36,600 Speaker 2: business confidence and activity outloock here in New Zealand out 55 00:02:36,639 --> 00:02:38,880 Speaker 2: on Wednesday, and that's about are these green shoots that 56 00:02:38,919 --> 00:02:42,600 Speaker 2: we've been talking about continuing? Are they growing? And NAUSI 57 00:02:42,800 --> 00:02:45,520 Speaker 2: On Wednesday, we've also got the inflation data and that 58 00:02:45,600 --> 00:02:47,960 Speaker 2: may support more cuts by the Reserve Bank of Australia 59 00:02:47,960 --> 00:02:51,360 Speaker 2: to their official rates. Busy week, predominantly on Wednesday for 60 00:02:51,400 --> 00:02:54,600 Speaker 2: the US. The PCEE inflation, that's the one that the 61 00:02:54,720 --> 00:02:57,600 Speaker 2: US Central Bank mainly watches, the GDP growth, that's all 62 00:02:57,639 --> 00:03:01,720 Speaker 2: out on Wednesday, and then they've got their unemployment numbers 63 00:03:01,720 --> 00:03:05,760 Speaker 2: and their manufacturing forecast lead indicator is coming out. It's 64 00:03:05,800 --> 00:03:09,639 Speaker 2: all about what does that matter given the liberation data. 65 00:03:10,120 --> 00:03:13,240 Speaker 2: Liberation Day has come out subsequent to the data, so 66 00:03:13,280 --> 00:03:15,359 Speaker 2: the data maybe old, so it's going to be really 67 00:03:15,360 --> 00:03:18,239 Speaker 2: hard for central banks and invest is to read through that. 68 00:03:19,400 --> 00:03:22,200 Speaker 2: We've got a bunch of US companies reporting this week 69 00:03:22,240 --> 00:03:24,600 Speaker 2: as well. It's almost thirty percent of the US market 70 00:03:24,639 --> 00:03:28,360 Speaker 2: by market capitalization. The Chinese have got their purchasing Manager 71 00:03:28,360 --> 00:03:32,560 Speaker 2: and disease out on Wednesday. Is there a resign of recovery? 72 00:03:32,639 --> 00:03:35,480 Speaker 2: The Japanese have got a Bank of Japan rate decision 73 00:03:35,520 --> 00:03:38,320 Speaker 2: on Thursday. They have been increasing rates where they keep 74 00:03:38,400 --> 00:03:42,200 Speaker 2: increasing rates given what's happening globally. And then finally, there's 75 00:03:42,200 --> 00:03:46,640 Speaker 2: just three elections going on to Canadian and Singapore and 76 00:03:46,800 --> 00:03:49,000 Speaker 2: on Saturday we've got the Australian federal election going on. 77 00:03:49,080 --> 00:03:50,280 Speaker 2: So there's a lot to think about. 78 00:03:50,360 --> 00:03:52,280 Speaker 1: Yeah, totally a lot of moving parts. Hey, Shane, Thanks 79 00:03:52,320 --> 00:03:54,080 Speaker 1: very much, Shane, Sally Harbor Asset Management. 80 00:03:54,600 --> 00:03:57,760 Speaker 2: For more from hither Duplessy Allen Drive, listen live to 81 00:03:57,880 --> 00:04:00,600 Speaker 2: news Talks it'd be from four pm week day, or 82 00:04:00,600 --> 00:04:02,720 Speaker 2: follow the podcast on iHeartRadio.