Latest / Best of Business / Shane Solly: Harbour Asset Management spokesperson explains why the US share markets have picked up

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Shane Solly: Harbour Asset Management spokesperson explains why the US share markets have picked up · Best of Business

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  Speaker 1: You're listening to a podcast from News talks'd be follow
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  Speaker 1: Heller Duper See Ala.
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  Speaker 2: Chain, Solly Harbor Asset Management is with us.
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  Speaker 3: Hey Shane, Yeah good, Yeah, how you go.
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  Speaker 2: I'm very well, thank you mate. So we've seen a
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  Speaker 2: little bit of a rally, have we in the US
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  Speaker 2: share markets? What's going on here?
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  Speaker 3: Yeah? Look, on Friday we saw the the US share
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  Speaker 3: market close up on one percent on the day, So
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  Speaker 3: we've seen quite a good rally back to where we
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  Speaker 3: were in February. Some upbeat news about jobs in the
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  Speaker 3: US narrowly beating expectations, a phone call between mister g
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  Speaker 3: mister Trump that saw some sentiment improvement, and then we've
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  Speaker 3: seen mister Trump pushing the US fit to reserve the
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  Speaker 3: cut rates again. Sydney markets picking up on that. Over
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  Speaker 3: the weekend, we've seen some more discussion about US China
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  Speaker 3: trade talks being back on, particularly focusing on rares. Some
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  Speaker 3: comments just in the last twenty four hours about from
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  Speaker 3: a Trump economic advisor that they're very comfortable with a
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  Speaker 3: trade deal closing with China on Monday. So what happens tomorrow?
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  Speaker 3: Newsy on time. New Zealand market didn't really take debit
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  Speaker 3: and New z Own dollar up sort of round sixty
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  Speaker 3: point three seven against the US dollar. He's earned tenure bonds,
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  Speaker 3: government bonds pretty flat four point six five, and our
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  Speaker 3: shear market down point two percent, so we didn't really
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  Speaker 3: follow on.
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  Speaker 2: Shane, did you take Paul Conway's comments to mean that
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  Speaker 2: there would be some rate cuts coming?
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  Speaker 3: Well, the market certainly did, right, mister Conway. He said
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  Speaker 3: a couple of interesting things. Firstly, he said the labor
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  Speaker 3: market may be softer than the jobless market rates to douce,
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  Speaker 3: so there could be about underemployment, people not working the
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  Speaker 3: same now as they were. He then went on just
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  Speaker 3: underlying inflation continues to ease, so those are sort of
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  Speaker 3: tonally talking about maybe they could talk about more cuts.
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  Speaker 3: So this is reserve bank speak for maybe we could
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  Speaker 3: think about it. He did say we've got a long
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  Speaker 3: running productivity problem, so I think that's true, but we
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  Speaker 3: definitely need in the near to bit of abjection of
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  Speaker 3: some more support. So you know, we you did see
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  Speaker 3: in miss markets take a bit of a bait on
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  Speaker 3: that one.
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  Speaker 2: Hey, what do you make of your Brisco's replacing the Warehouse.
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  Speaker 3: Yeah, so on Friday night, Insidys fifty v S and
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  Speaker 3: P Interdicts fifty benchmark, this is the main benchmark. Mini
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  Speaker 3: QP server funds follow announced that Bresco Group we will
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  Speaker 3: replaced the Weeehouse Group based on trading volumes and the
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  Speaker 3: market capitalization of two businesses. And this will all be
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  Speaker 3: pushed through on Thursday the nineteenth, that day before Mattawiki.
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  Speaker 3: And it means that many funds that follow that Insidacy fifty,
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  Speaker 3: the SMP Indidacy fifty benchmark, they'll need to buy shares
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  Speaker 3: and Brisco and sell shoes and Warehouse. So today we
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  Speaker 3: saw the Brisket cheer price up nine point five dollars
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  Speaker 3: forty and the Warehouse Group cheer price fell three point
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  Speaker 3: two percent to ninety one cent. So somebody might have
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  Speaker 3: got a bargain. I'm not sure which one.
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  Speaker 2: Thanks very much, Shane, I appreciate it. Shane Sally Harbor,
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  Speaker 2: Asset Management.
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