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Shane Solly: Harbour Asset Management spokesperson on the US share markets dropping · 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: this and our wide range of podcasts now on iHeartRadio.
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  Speaker 2: Shane Solely Harbor Asset Management is with me.
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  Speaker 3: Now, Hey Shane, Hi, how are you? Wow?
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  Speaker 2: Thank you Shane. Let's have aalo quick look at the
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  Speaker 2: US first, right, so we've got the interest rates for
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  Speaker 2: the government bonds and the markets falling off Friday.
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  Speaker 3: What happened?
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  Speaker 4: Yeah, Look, we hit some weak non farm payroll data
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  Speaker 4: and the markets are jumping around a bit on economic
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  Speaker 4: data points. We're having good data bad data, and we
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  Speaker 4: decided this is bad data. And what we saw is
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  Speaker 4: this expectations of the US Fit Reserve increasing its cuts
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  Speaker 4: or bringing forwards cuts. It's due to meat on the
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  Speaker 4: seventeenth this week, sorry, next week, we should say to
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  Speaker 4: talk about this.
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  Speaker 3: And so the market's now based on this.
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  Speaker 4: Week economic data dragged forward expectations of cuts, and so
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  Speaker 4: we're actually seeing the two year government bond year, which
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  Speaker 4: is an important benchmark, down at three sixty five three
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  Speaker 4: point sixty five versus five point two percent back in
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  Speaker 4: October twenty three. At the same time, we also had Broadcom,
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  Speaker 4: which is one of the big semiconductor chip Bakers come
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  Speaker 4: out with a weak number on Friday, and that saw
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  Speaker 4: the US SHAR market come off of it down one point,
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  Speaker 4: still up only thirteen percent for the year, so you know,
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  Speaker 4: maybe a little bit of a healthy correction rather than outdown.
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  Speaker 3: But that certainly caused a bit of a bit of
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  Speaker 3: old tidy.
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  Speaker 2: And so did this this weakness I suppose impact the
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  Speaker 2: local markets.
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  Speaker 3: Yeah, well it's a good point.
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  Speaker 4: Local interst rate's pretty stable and we actually saw the
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  Speaker 4: New Zealand shear market up slightly. And you know, we
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  Speaker 4: don't have these big cyclical semiconductor cels companies like infratl
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  Speaker 4: for shrimp up with health Gear, Contact Energy, Gin Track
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  Speaker 4: Walk on Airport. They actually we all up and boosted
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  Speaker 4: the ZL market Infratill. You know that share price continues
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  Speaker 4: to go strength to strength in certainly where it's all
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  Speaker 4: about data centers, it's all about being included in Australian
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  Speaker 4: shar market indebts.
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  Speaker 2: Hey, so what are you looking for this week that
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  Speaker 2: you think might influence the markets?
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  Speaker 4: A big week for poeties in the US. Of course,
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  Speaker 4: we've got the Tuesday the Trump Harris presidential debate. Now
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  Speaker 4: that could it's an important catalyst. So Obviously they're running
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  Speaker 4: pretty nick and neck at the moment and capital markets
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  Speaker 4: are just looking for any sort of surprise policy change.
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  Speaker 4: Do you think that perhaps they haven't drawn out earlier?
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  Speaker 4: And then on today with the European Central Bank it
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  Speaker 4: is expected to cut interest rates, joining this central bank
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  Speaker 4: club of neutralizing rates to take pressure of the economy.
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  Speaker 4: Certainly everybody's looking at the slowing rate of economic growth
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  Speaker 4: and saying those rates sittings too tight.
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  Speaker 2: Interesting, Shane, are you going to watch the debate?
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  Speaker 4: Are you?
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  Speaker 2: Are you? You're going to be an absolute sucker for
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  Speaker 2: this politics.
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  Speaker 3: I'm a bit of a tragic on this stuff, you know.
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  Speaker 4: It was it was a great Howard Marks comment on
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  Speaker 4: the weekend about somebody is going to win on this
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  Speaker 4: and I'm not sure even going to be great.
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  Speaker 3: And it's just a sort of like we've got to
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  Speaker 3: be aware of.
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  Speaker 4: What these policy changes can dig off back, but let's
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  Speaker 4: just hope they can all at least be civilized.
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  Speaker 2: Well, it's much less fun, Shane, Thank you very much,
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  Speaker 2: made appreciated, Shane, Solly Harbor Asset Management.
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