Here is our latest Economic and market update for quarter three 2020
Our Spring Update, which contains two main articles. In the investment market review we traverse some of the key talking points in global markets over the last three months. After a tumultuous first six months of the year, it was pleasing that the recent quarter delivered good overall returns without the same degree of price volatility seen earlier in the year.
The second article, titled ‘The markets are not the economy’ examines why - in spite of such widespread and discouraging economic news - both the US and New Zealand share markets are at, or close to, all-time highs. It’s an interesting read and makes the underlying point that share markets represent the best estimate, today, of each company’s entire future earnings, growth and dividends into the future. It’s also why bad current news and a strong share market, aren’t necessarily a contradiction.
2020 Q3 Economic Commentary Optima
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