NZ shares break nine-year winning streak

Fri, 31 Dec 2021

The New Zealand stock market slipped 0.4% in 2021, ending a nine-year positive streak as future earnings look to be increasingly in doubt. On the day, the S&P/NZX 50 Index edged down 0.06%, or 7 points, to 13,033.77. Turnover across the main board was quiet at $39.9 million.“Ten-year bond yields have gone from around about 1.2% to 2.4% so the discount rate for future earnings has risen sharply,” said Matt Goodson, director at Salt Funds Management. The spectre of inflation is a key factor. “Long-term bond yi...

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