Latest / Best of Business / Shane Solly: Harbour Asset Management spokesperson on the market response to the new tariff threats

Transcript

Shane Solly: Harbour Asset Management spokesperson on the market response to the new tariff threats · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talk zed B.
• 0:12
  Speaker 1: Follow this and our wide range of podcasts now on iHeartRadio.
• 0:16
  Speaker 2: Shane Sley Harbor Asset Management is with us right now,
• 0:19
  Speaker 2: has Shane Hey? He Now, how have the markets reacted
• 0:22
  Speaker 2: to this ongoing nonsense from Donald Trump?
• 0:25
  Speaker 3: So on Friday, mister Trump, he's written to impose a
• 0:28
  Speaker 3: fifty percent tariff on the European Union from the first
• 0:30
  Speaker 3: of June because they are being slow and doing a
• 0:33
  Speaker 3: deal with them. And he also said I'm going to
• 0:35
  Speaker 3: slap our twenty five percent terrify on Apple and any
• 0:37
  Speaker 3: of the device makers at the dance start moving to
• 0:39
  Speaker 3: the US. Schim Makett didn't really like it. U shimak
• 0:42
  Speaker 3: With down about point seven percent. US bond markets are flat.
• 0:45
  Speaker 3: Not the reaction we've seen back in April, when someone
• 0:48
  Speaker 3: like this would have seen markets lose their lunch. So
• 0:51
  Speaker 3: pep skinning a little bit less less sensitive announcements. Over
• 0:55
  Speaker 3: the weekend. Sullivon Delaydon, who is President of the European Commission,
• 0:59
  Speaker 3: set a phone called mister Trump said, listen to a deal.
• 1:02
  Speaker 3: Mister Trump said, let's extend things out. So look, you
• 1:05
  Speaker 3: know it's just a reminder again that we had defaces
• 1:09
  Speaker 3: ongoing uncertainty around tariff. We've got a holday overnight in
• 1:13
  Speaker 3: the US. What we can see is that the market futures.
• 1:17
  Speaker 3: This is people like me betting on tims of what
• 1:20
  Speaker 3: they think is going to happen. Have got the US
• 1:22
  Speaker 3: market at one percent, so we'll be up. He's our
• 1:24
  Speaker 3: market pretty flat than the day. We're down slightly, the
• 1:26
  Speaker 3: year markers ten point four percent, bonds did nothing. The
• 1:29
  Speaker 3: interesting one is the market is going anything US to
• 1:33
  Speaker 3: sell US trades coming back, and so the US dollar
• 1:35
  Speaker 3: is the big decliner and serve the New Zealand dollars
• 1:38
  Speaker 3: up to over sixty against the US dollar again today.
• 1:41
  Speaker 3: So yeah, there's a bit of movement there.
• 1:42
  Speaker 2: Obviously quite a few companies reporting this week. Who are
• 1:44
  Speaker 2: you going to be watching, Shane.
• 1:46
  Speaker 3: Yeah, look well obviously globally and the video is out
• 1:49
  Speaker 3: on Wednesday. That will be the big well Wednesday, US Tuesday,
• 1:52
  Speaker 3: New Zealand. Fifteen companies here in New Zealand big ones
• 1:55
  Speaker 3: Wednesday fishing and park were health care and in Pratol Thursday,
• 1:59
  Speaker 3: we've got main Freight in Rhyme and we've got five
• 2:00
  Speaker 3: real estate stocks so far the results season has been
• 2:03
  Speaker 3: pretty good, so hopefully fingers crossed that trend continues over
• 2:06
  Speaker 3: the rest of the week.
• 2:07
  Speaker 2: What are you expecting from the OCR on Wednesday? I
• 2:09
  Speaker 2: mean it's obviously going down. Is it down by twenty five?
• 2:11
  Speaker 2: Down by fifty?
• 2:13
  Speaker 3: Yeah? No, twenty five is what the market has priced
• 2:15
  Speaker 3: in for it. So from three point five to three
• 2:17
  Speaker 3: point twenty five, it's all about the tone. Is there
• 2:19
  Speaker 3: going to be more cuts and win and that might
• 2:22
  Speaker 3: in turn be influenced by how much weight's placed on
• 2:24
  Speaker 3: those global factors like tariff risk. You know, things have
• 2:28
  Speaker 3: peraps gotten less bad. We've always just seen you know,
• 2:31
  Speaker 3: some New Zealand today to get a bit better. So,
• 2:33
  Speaker 3: you know, can I be talk about putting our pauson? Maybe?
• 2:37
  Speaker 3: I think go back to what you were talking about
• 2:38
  Speaker 3: earlier on. I think the general public would like to
• 2:40
  Speaker 3: see a little bit more of a drop. The market's
• 2:43
  Speaker 3: only pricing and that the low point and the official
• 2:47
  Speaker 3: rate cycle is in the Vember twenty five the way
• 2:49
  Speaker 3: out that's two point eighty five percent, So we should
• 2:52
  Speaker 3: get to three twenty five this week. It's whether how
• 2:55
  Speaker 3: fast and whether we get to twenty five will be
• 2:57
  Speaker 3: the key for Markets.
• 2:58
  Speaker 2: Yeah, Shane, thanks very much. I really appreciate it. Shane Soley,
• 3:01
  Speaker 2: Harbor Asset Management.
• 3:02
  Speaker 1: For more from Used Talks, B Listen live on air
• 3:05
  Speaker 1: or online, and keep our shows with you wherever you
• 3:08
  Speaker 1: go with our podcasts on iHeartRadio