Friday 13th May 2022
US equities continue to take a hit as inflation concerns continue and two of the biggest contributors – the war and China lockdowns – show no signs of abating. The war won’t go away, with Sweden and Norway now pushing for fast-tracked NATO membership. Reports suggest Beijing is now significantly in lockdown, which could further damage the Chinese economy and foreign trade. Here we are, says NAB’s David de Garis, wondering how low shares will go before we see anything like the Greenspan put come into play! A bigger worry for the UK is the cost of living, with March GDP numbers showing the economy retracted, and it will almost certainly be worse in April. Also today, we compare and contrast the direction of house prices in the UK and New Zealand.