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Speaker 1: You're listening to a share these podcast.

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Speaker 2: It's interesting as well, right with the volatility that's come through,

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Speaker 2: because I mean, you look at some of the days

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Speaker 2: we've had this year, like wild wild times, and watching

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Speaker 2: what would you know previously have been a couple of

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Speaker 2: weeks or months of movement happen, you know, within seconds

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Speaker 2: or minutes. Has been quite hard to stomach sometimes, and

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Speaker 2: even amongst that, actually it looks like people have been

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Speaker 2: buying in a bit more. You know, I'm not going

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Speaker 2: to say everyone buying the dip, but I think there's

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Speaker 2: been the sort of recognition from a lot of people that, hey,

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Speaker 2: sometimes that the markets have been I think maybe over

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Speaker 2: correcting or a bit overly worried about things and then

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Speaker 2: seem to come back the other way. Now, let's be real.

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Speaker 2: I also worry a little bit that the markets sometimes

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Speaker 2: undercook or don't forward cast as much of the challenging

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Speaker 2: conditions and sort of take good expected economic news and

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Speaker 2: sort of just run with it. But what was fascinating

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Speaker 2: I think is also in recent times, when you had

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Speaker 2: conflict in the Middle East, we've been expecting likes of

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Speaker 2: oil prices, some of those other come on to spike

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Speaker 2: up sharply there wasn't anything. In fact, in terms of

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Speaker 2: actual market action. I think most of the US market

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Speaker 2: numbers actually went higher despite some of those commodities starting

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Speaker 2: to show pressure. Now, I do wonder if everyone's become

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Speaker 2: a little bit numb in a sense to just how

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Speaker 2: many of these big geopolitical things come through. And people

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Speaker 2: are now starting to look a little bit more at

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Speaker 2: the numbers and going, Okay, yep, some people are expecting

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Speaker 2: certain things, but until I actually start to see them

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Speaker 2: that expectation move to reality. I'm going to look at

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Speaker 2: what's actually right in front of me, what's actually being

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Speaker 2: reported here and now, and move with that. And I

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Speaker 2: think that's again, that's quite a different market than what

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Speaker 2: we've seen previously. When you jumped at shadows, you jump

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Speaker 2: to any sort of little tibit of information. Now people

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Speaker 2: seem to be not only holding back but going look,

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Speaker 2: when there is actual real information. I'm going to work

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Speaker 2: on that. I'm going to pile in a bit more

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Speaker 2: and I'm not going to react nearly as much to

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Speaker 2: sort of just some of that that broader stuff in

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Speaker 2: the expectation piece. That that's a shift.

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Speaker 1: Let's jump back to new Zealand and how businesses here

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Speaker 1: are feeling. This been a number of surveys out in

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Speaker 1: recent weeks. They were looking at a recovery. But what

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Speaker 1: would you say, where's sentiment now?

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Speaker 2: Sentiments okay? And I guess I say okay, because depending

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Speaker 2: on how you look at it, in some areas, the

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Speaker 2: economy still looks weak. Forward expectations still don't look great,

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Speaker 2: but confidence about what's sort of coming up next is

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Speaker 2: still improving, if you will, And I think that's again

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Speaker 2: probably indicative of where the economy is moving. It's improving

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Speaker 2: slowly but surely, but it's sort of a sluggish one.

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Speaker 2: People are still worried in different sectors about how they'll go.

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Speaker 2: You know, you look at the likes of the construction

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Speaker 2: sector again pretty tough in many respects, Retail a whole

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Speaker 2: lot more, mixed, manufacturing a whole lot more mixed, agricultural

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Speaker 2: primary sector in a good spot. But I do think

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Speaker 2: as well, second half of this year, you do have

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Speaker 2: people that are refixing onto those lone mortgage rates. Everyone's

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Speaker 2: trying to act a little bit more limited in terms

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Speaker 2: of their investment intentions and similar there seems to be

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Speaker 2: this view of look, yes, there might well be better

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Speaker 2: things to come, but I'm going to be very careful

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Speaker 2: with my money. As a bit business, I'm going to

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Speaker 2: be careful with my hiring, and from a household perspective,

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Speaker 2: everyone seems to be more careful with their cash too.

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Speaker 1: Yeah, jobs, I would have thought they would be coming

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Speaker 1: back a little bit by now, but the figures aren't

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Speaker 1: really telling us that.

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Speaker 2: Every time we get monthly job numbers, they seem to

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Speaker 2: show a little bit of a slight tick up, but

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Speaker 2: then that almost always gets revised again within the next

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Speaker 2: couple of months. And the more interesting indicator in recent

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Speaker 2: times has been the number of job ads that are

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Speaker 2: out there, you know, the number of job opportunities that

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Speaker 2: you can apply for in seasonally adjusted terms. They've basically

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Speaker 2: been flat now for just about a year now. That's

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Speaker 2: flat at sort of levels that we haven't seen since

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Speaker 2: about twenty thirteen or so, so it's been a long time.

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Speaker 2: The fact that they're flat is good relative to the

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Speaker 2: idea that they could still be falling, but it also

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Speaker 2: says that if they've been flat for nearly a year now,

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Speaker 2: there's not really any real trend of them starting to

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Speaker 2: pick up any sort of momentum, and you do just

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Speaker 2: get this feeling again from businesses that they are in

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Speaker 2: this sort of holding pattern where they would love to

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Speaker 2: employ more people. They just can't see the sort of

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Speaker 2: expectations for really strong things ahead enough for you to

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Speaker 2: start to hire a whole bunch more. You're seeing that

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Speaker 2: as well, a lot more young people that are becoming unemployed.

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Speaker 2: That's the group who are often losing their jobs, some

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Speaker 2: of them heading for Australia and similar So some of

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Speaker 2: those trends I think are fairly well established at this point.

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Speaker 2: We also haven't seen any real trend that they are

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Speaker 2: starting to improve any quicker than we might have expected,

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Speaker 2: in fact, that in most cases they're taking a whole

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Speaker 2: lot longer.

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Speaker 1: Investing involves the risk you might lose the money you

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Speaker 1: start with. We recommend talking to a licensed financial advisor.

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Speaker 2: We also recommend breeding product disclosure documents before deciding to

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Speaker 2: invest