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Speaker 1: Time for a look at the market. We've got Shane

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Speaker 1: Solely from Harbor Asset Management. We've been out a Shane.

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Speaker 2: Good a Heather, how are you and very well?

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Speaker 1: Thank you? Now what did you make? Oh mate, thank you,

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Speaker 1: it's good to talk to you too. What did you

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Speaker 1: make at this exemption for the smartphones and the computers

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Speaker 1: and the electronics and stuff from Trump? Is this a

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Speaker 1: good news sign?

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Speaker 2: Yeah, it is, but you know, you've got to step back.

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Speaker 2: We've had a policy induced skier to grow, so and

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Speaker 2: you think that with Jesus policy rest that's helpful. So

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Speaker 2: this ninety day reprieve, and we're going to be careful

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Speaker 2: about this. It is a reprieve to tech tariffs is

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Speaker 2: helpful go back. We are a little bit worried as

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Speaker 2: a capital market. This is a bit of a go

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Speaker 2: and no go situation that pushed out tariffs. But the

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Speaker 2: administration saying, hey, look we're going to launch some new

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Speaker 2: investigations into semiconductor chips and that may actually capture a

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Speaker 2: bunch of tech applications. So it's helpful. It's in the

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Speaker 2: right direction, but we've got to heck up and we

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Speaker 2: are perhaps past peak tariff noise, but there's a lot

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Speaker 2: of uncertained to Heather, and that's going to continue to

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Speaker 2: keep pressure on consumers and businesses and markets.

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Speaker 1: I see it is saying it's willing to get involved.

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Speaker 1: What exactly does that mean?

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Speaker 2: Yes, so soon as in Collins, she's the head of

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Speaker 2: at Boston SEE and she's a member of the FED

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Speaker 2: Open Market Committee. She told the Financial Times that the

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Speaker 2: US Central Bank, the FED is absolutely preard to step

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Speaker 2: in and stabilize financial markets of conditions become disorderly. And

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Speaker 2: so what we saw last week was some disruptions to

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Speaker 2: government bond years, government bond markets, and that's what she's

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Speaker 2: talking about, disruption. What she's saying is we think markets

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Speaker 2: are still functioning well, we're not seeing liquidity issues, but

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Speaker 2: we're ready to step in. It's really important. It's important

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Speaker 2: to give people confidence that US government bonds they are

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Speaker 2: a safe asset and by definition, other government bonds, including

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Speaker 2: our own, are safe.

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Speaker 1: And so what's been the reaction locally to both the

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Speaker 1: tariffs that tech tariffs and the and the FED comments.

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Speaker 2: Yeah, look the bond yields, and they are important. They

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Speaker 2: are pretty flat. The tenure government bond youars flat at

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Speaker 2: four point seventy five. They're quite a long way up

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Speaker 2: from where they started the year, but they've stopped going up.

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Speaker 2: That's important. The New Zealand dollar back to just under

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Speaker 2: fifty nine cents fifty eight sixty against the US dollar.

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Speaker 2: That's about US dollar weakness. So one of the things

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Speaker 2: we've seen through this last few weeks is the US

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Speaker 2: dollar has been falling and the New Zealand shear market

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Speaker 2: was about point seventy percent, so less than one percent

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Speaker 2: more than a half, led by defensive growth companies like

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Speaker 2: infratill'm already and Fish and Park where alk and ebos.

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Speaker 2: So yeah, not a bad day, but not super exciting.

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Speaker 1: Okay, what's coming up this week that the investors should

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Speaker 1: keep an eye out for.

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Speaker 2: Yeah, Busy Weeks said that the probably key one locally

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Speaker 2: is on Thursday, we've got this New Zealand consumer price

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Speaker 2: inflation from March to March quarter. I should give the

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Speaker 2: Reserve Bank of New Zealand a green light to keep

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Speaker 2: cutting official rates. We're seeing certainly businesses and surveys saying hey,

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Speaker 2: look the inflation conditions a form, so that should give

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Speaker 2: us a green light for more cuts. Tuesday night, we've

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Speaker 2: also got mister Powell, who's the cheer of the US

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Speaker 2: federal is there talking about economic outlook. He's probably going

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Speaker 2: to be a little bit weary. We've also got the

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Speaker 2: European Central Bank potentially cutting and and then later in

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Speaker 2: the week we've got a large number of US companies

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Speaker 2: delivering profit results and then it'll give the real tone

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Speaker 2: for where we should expect the markets to go on.

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Speaker 2: Of course, we're closed for Easter Friday, so sing to

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Speaker 2: be a little to focus on East Eggs on over

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Speaker 2: the weekend.

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Speaker 1: Shane, thanks very much, Looking forward to chatting to you

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Speaker 1: next week. Is Shane Soli Harba, Asset Management.

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