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Speaker 1: Rain Bridge, Shane Soli, Harbor Resset Management. Good evening, Hey

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Speaker 1: get it Ryan, how are you? Yeah, good to have

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Speaker 1: you here. Let's get a market update we have. The

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Speaker 1: markets reacted to the latest round of threats on terroriffs

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Speaker 1: from Trump.

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Speaker 2: Yeah. Look so mister Trump coming out and talking about

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Speaker 2: thirty percent tariff for Mexico and Europe, threatening to thirty

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Speaker 2: five percent on some Canadian goods, and the prospect of

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Speaker 2: a blanket fifteen to twenty percent on everybody else potentially

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Speaker 2: including New Zealand's. Look. Actually, the announce it's been a

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Speaker 2: bit of a negative wake up call for markets, but

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Speaker 2: we've actually got reasonably modest response so far. Markets might

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Speaker 2: have been a bit complacent, but we saw on Friday

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Speaker 2: the US bond yields go up slightly. This is the

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Speaker 2: cost of borrowing for the US government. Not a huge amount,

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Speaker 2: but a little bit. US shehar market fell about point

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Speaker 2: three per percent, and it's flagging based on futures that

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Speaker 2: the US market will be down about half a percent tonight.

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Speaker 2: US dollars slightly stronger. So yeah, bit of a wake

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Speaker 2: up call, but not the same degree of sell off

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Speaker 2: we saw back at eight folk six on that infamous

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Speaker 2: liberation there.

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Speaker 1: What would it mean for US if he did go

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Speaker 1: ahead and do a fifteen or twenty percent.

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Speaker 2: Yeah, Look, I think it's a bit of a headwind

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Speaker 2: for some of our key exporters, certainly beef and wine.

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Speaker 2: There is particularly one area that is New Zealand exports

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Speaker 2: a lot into the US. Headwind for some of the

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Speaker 2: manufacturers and services companies. I do wonder about it just

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Speaker 2: causing a bit more uncertainty for the wider business in

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Speaker 2: the sumer confidence levels. Fisher and Proper Health key here

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Speaker 2: in New Zealand Shire Market, our biggest company by market cap,

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Speaker 2: is exposed to tariffs on the Mexican product that produces

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Speaker 2: that goes into the US. But I think at this

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Speaker 2: stage it seems like that product will be covered by

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Speaker 2: the U s NCA, so it may avoided any issues,

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Speaker 2: and certainly the FMP ten is pretty stavy in dealing

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Speaker 2: with these issues.

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Speaker 1: And any reaction from local markets.

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Speaker 2: Yeah, pretty pre muted today actually, Ryan the New Zealand

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Speaker 2: dollar up sorry down slightly against the US dollar around

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Speaker 2: sixty since across the New Zealand ten year government bond

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Speaker 2: yield up slightly three basis points to four point five

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Speaker 2: per seven percent in New Zealand. Schimmak pretty much fled

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Speaker 2: on the day, so no, not not now part of

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Speaker 2: the world, but we'll wait for overnight.

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Speaker 1: Appreciate your time. Shane Shane Solly Harborresset Management with our

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Speaker 1: market update for this evening.

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

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