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 fell in the US, Germany, and Canada compared to 30 September 2024. While Australia, New Zealand, the UK, and Japan all remained steady for September.
- Central bank cash rates saw a 0.50% cut in the US, with Europe and Canada also cut by 0.25% over September. All other countries remained steady for the month.
- Inflation remained stable in Australia, New Zealand, Europe, and China for September. Headline and Core inflation increased in Japan. Headline inflation fell in the US and remained stable in the UK, while Core inflation remained stable in the US and increased in the UK.
- Term deposit rates continue to taper off. This has been more dramatic in New Zealand than Australia.
- From a market’s perspective, all markets accept global commodities are positive for the month and the year to September 2024. REITs and Infrastructure have a strong month, with the NZD:USD and AUD:USD being the strongest over September. The US Fed’s 0.50% interest rate cut is reflected in the market.
- Over the one-year period to 31 August 2024, the US and international equities have offered the strongest performance. However, infrastructure has performed strongly and has noticeably made inroads to US and international equities as the strongest performing asset class over one year.
Feel free to utilise this update with your clients; all we ask is that you reference Research IP in your communication. We can also supply individual charts as required.
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