S&P/NZX 50 Index to remain under pressure as inflation looms

The S&P/NZX 50 Index will remain under pressure as the spectre of rising inflation takes the shine off equities and the high kiwi dollar crimps interest in heavyweights like Fisher & Paykel Healthcare.The index has already slipped more than 1 percent this year as inflation pressure begins to emerge. Both the NZ government bond and swap curves have moved higher and steeper as markets move to factor in rate hikes.Yesterday’s stronger-than-expected survey of inflation expectations coupled with recent strong employment data fuelled ma...