We bring you the RIPPL Roundup each month to provide an early market snapshot for New Zealand and Australian financial advisers.
Our Key Observations:
- 10-year Government Bonds saw modest change, with US, UK, Japan, and Canada flat for the month, Australia and New Zealand increased by 0.1%, and Germany fell by 0.1%.
- Central bank cash rates remained steady for the month, except for Europe and Canada, which both reduced by 0.25%.
- Inflation remained steady in Australia and New Zealand, while the US and Japan both fell across both Headline and Core Inflation. Headline inflation remained static in China and increased in Japan. Core inflation increased in Japan and fell in the UK and China.
- Term deposit rates continue to remain flat in Australia and New Zealand.
- From a market’s perspective, all markets, other than the NZX50 and Infrastructure, were positive for the month to June 30, 2024. The NZX50 is the only market that is negative for the year to June 30, 2024.
- The NZD/ USD relationship is negative for the month and over one year. While the AUD/ USD has been positive over both periods.
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