A vital backstop - David Pine | NZIJ RISK MANAGEMENT LTD 2009 looks as though it will be challenging for a lot of people. Because of this it is very important that you keep your insurances intact and up to date. Two cases this week bear this out.
Cautious consumers - Westpac Economics Department New Zealand consumers have become cautious. Carefree spending seems to be a thing of the past. The official retail sales data for the last quarter of 2008 confirms that consumers have largely put away their purses and wallets. Christmas was not a good one for retailers.
Obamanomics - compiled from information supplied by UBS Those who feared an Obama Administration would represent an immediate and reckless ideological lurch to the left have so far been pleasantly surprised by the more moderate rhetoric, pragmatic cabinet selections and willingness to work with GOP congressional leaders.
What next? - Caglan Bagci | NZIJ MORTGAGES Interest rates are falling at a phenomenal rate. Retail, prime mortgage rates today are around the 6% mark for fixed rates and close to 7% for variable. Break costs are outrageously high with many borrowers wondering if it is worth their while to break their loan. The banks will simply pass on their losses to the borrower on breaking.
Bad now, but some positive signs? - AMP Capital Investors (NZ)* The global economic situation is obviously bleak. The key problem last year was the financial crisis which, given ongoing bank problems, is clearly still with us. However, this year the key problem will be the economic fallout.
Top equity fund beats index by 22% - reprinted from financialalert magazine* In a year when markets fell as much as 50%, Australian-based boutique Magellan Asset Management’s Global Fund - marketed in NZ for the past two years - bucked the trend, beating the index by 22.68% in calendar 2008 - the highest return of any Australian-based equity fund.
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