Lower interest rates, V-shaped bounce justify current share prices: Harbour

Wed, 10 Jun 2020

There is probably no disconnect between equities markets and the real economy, even after the recent sharp rally, because the fall in interest rates has been a greater force than the expected fall in corporate earnings, said Harbour Asset Management managing director Andrew Bascand. The S&P/NZX 50 Index has jumped more than 30 percent since its low point on March 23 and the US S&P 500 Index has made similar gains. "This is a health crisis so far – it might develop into an economic crisis," Bascand told an online meeting of the CFA Society...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

On the Money

On the Money: North Korea, One stadium and more

NZ trade hopes with North Korea reignited, and the one stadium to rule them all.

Dileepa Fonseka 5:00am

Opinion

Simon Robertson: The Ferrari stock business model

Part one of our columnist's July series on business models.

Simon Robertson 5:00am

Technology

The underground network sneaking Nvidia chips into China

Shipments circumvent US export controls through supply-chain blind spots.

The Wall Street Journal 5:00am

The underground network sneaking Nvidia chips into China

Sponsored

Five steps to potent data monetisation

Realising the true value of an organisation’s data.

Spark

Sponsored

Smart chargers don't just charge EVs

They also take the pressure off a stressed power network - We.EV

We.EV

More Economy

Retail

Briscoe Group says tax changes will hit FY net profit by $7.4m

New legislation affects depreciation on commercial buildings.

Rebecca Howard 05 Jul 2024

Economy

Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024