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Speaker 1: Now Shane solely harbor asset management is with us. Hey Shane, Hi, Okay,

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Speaker 1: so we've got the trade talks. What's the latest?

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Speaker 2: Yeah, Look, so the US and Chinese governments have both

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Speaker 2: reported substantial progress. They spending two days in Switzerland having talks,

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Speaker 2: say but de escalating the trade war. They haven't released

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Speaker 2: any specifics, but the Chinese Vice Premier he left thing.

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Speaker 2: He said the two biggest economists have agreed to create

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Speaker 2: a mechanism for further talks. Now tonight CMPU in New

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Speaker 2: Zealand time, US Treasurer Scott said he's going to do

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Speaker 2: a briefing on the China talk. So it's notice pending, noticepending.

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Speaker 1: How are the capital markets reacting?

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Speaker 2: Look going into the weekend, there was actually pretty low

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Speaker 2: expectations market. It's pretty much of the view that the

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Speaker 2: sisters the starter, there's the icebreaker. But if these statements

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Speaker 2: from the two governments are actually correct about the talks

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Speaker 2: being sustained, it's a better outcome. You know, the truthers

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Speaker 2: will still left arras and they will still lead to

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Speaker 2: slower activity and unfortunately a little bit higher inflation, but

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Speaker 2: it'll be less add So what we've seen in New

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Speaker 2: Zealand's trading time as the US dollar has gone up,

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Speaker 2: the US shaar market's actually the futures, this is the

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Speaker 2: forward market that gets traded outside normal time, is up

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Speaker 2: about one and a half percent plus. And locally we

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Speaker 2: saw a slightly better down in the New Zealand shre

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Speaker 2: market up half a percent. Main Frat that was the

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Speaker 2: big leader on the day, up five percent to sixty

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Speaker 2: six dollars. It is potentially a benefit of beneficiary of

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Speaker 2: the storing and trade between China and US, but really

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Speaker 2: until we sort of see the details, it's just words

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Speaker 2: suiting that Swiss chocolate might have hit the spot in

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Speaker 2: terms of sweeting things up there.

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Speaker 1: Now with the market surprised by Donald trumps announcement on pharmaceuticals.

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Speaker 2: Yeah, so we've sort of got win that there was

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Speaker 2: something due to be announced late last week and so

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Speaker 2: what has come out on as social media platform and

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Speaker 2: said we're going to cut prescription drug costs in the

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Speaker 2: US both thirty between thirty and eighty percent, bringing them

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Speaker 2: into line with other countries using what's called the Most

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Speaker 2: Favored Nations price and model. I won't bore you with

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Speaker 2: the details, but it's something that's been used before and

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Speaker 2: what this has done. Unfortunately, it's seen healthcare stops in

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Speaker 2: the Asia Pacific markets go down today on worries that

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Speaker 2: their profits will take a hit if they have to

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Speaker 2: reduce prices. In the US, in the need locally Efficient

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Speaker 2: Park with healthy Issue price was down two percent to

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Speaker 2: thirty five dollars twenty, perhaps impacted by that news.

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Speaker 1: Shane's good to talk to you. I really appreciate your

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Speaker 1: time mate. That Shane, We're talking in next week, Shane Solly,

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Speaker 1: Harbor Asset Management.

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