ep 311 | Are credit concerns a canary in the coalmine?
US credit markets have delivered strong returns this year. Companies have been issuing record amounts of debt, borrowing costs have remained manageable and bond investors have pocketed solid gains. However, in recent weeks cracks have appeared beneath the surface, and the pace at which the problems have emerged is worth paying attention to.
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5:48
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5:48
ep 310 | The week ahead - Inflation is headed up again, should we be worried?
Investors will be watching US economic releases ahead of next week’s Federal Reserve meeting, with the September consumer price index (CPI) report a likely highlight. Inflation will be front and centre here in New Zealand too. The latest CPI report is due on Monday, with the headline measure likely to hit 3.0% (the highest in more than 12 months).
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13:25
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13:25
ep 309 | What does a weaker currency mean for the economy?
In recent weeks and months, the NZ dollar has weakened against most trading partners. It's down six per cent against the US dollar since the beginning of July, while it’s at a three year low against the Australian dollar. We’re under 0.50 against the euro, something we haven’t seen since late 2009, more than 15 years ago. It’s doing exactly what you’d expect it to against a challenging economic backdrop, and whether this is good or bad depends on your perspective.
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5:10
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5:10
ep 308 | The week ahead - Trump threatens China with new tariffs
The government shutdown is now into its 12th day and there aren't any signs of a compromise yet. At least we can count on the private sector to remain open, and a slew of corporate earnings releases to fill the gap this week. More than 30 S&P 500 companies are set to announce results, including some of the US banking heavyweights. Here in New Zealand, we should get a fresh housing market report from the Real Estate Institute, while RBNZ Chief Economist Paul Conway is giving a speech on Wednesday in Sydney.
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10:40
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10:40
ep 307 | Are US stocks in a bubble?
It’s been a fantastic run for the US sharemarket. The S&P 500 index is up 18 per cent in the past 12 months, and 83 per cent over three years. Even Federal Reserve Chair Jerome Powell has commented on this, noting that “equity prices are fairly highly valued” during a recent speech. Are US stocks in a bubble, and how worried should investors be about where valuations have got to?
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