Market & Portfolio Update - May 2023
May saw global share markets deliver a flat return in local currency terms. Worries over the US debt ceiling made headlines; however, a deal between Republicans and Democrats was reached shortly after month-end, and the crisis was averted.
California-based Fisher Investments led the way, supported by their holdings in a number of technology companies. For example, Nvidia jumped 40% after it raised its outlook above expectations thanks to demand for its AI processor chips. At the time of writing, the stock is up over 160% year to date.
In May, we saw the release of the latest NZ budget, with the release pointing toward increased debt issuance, more spending and a significant cash deficit. Global credit rating agency S&P reiterated their previous warning around NZ debt levels, indicating a credit rating downgrade may be in the works if we stay on this same path with respect to government spending.
9 Financial Habits Of Successful People
Discover the secrets to financial success as we delve into the nine key habits practiced by prosperous individuals. From continuous learning and strategic investment to smart spending and insurance protection, this article offers invaluable insights to empower you on your journey towards financial freedom.
Business Must Do’s During The End of the Financial Year
As the end of the financial year approaches on 31 March 2024, there are a few things to take a look at to ensure you are prepared. We’ve built a checklist of reminders to make sure that you don’t miss a step.