Schedule a call or send us a message to get started.

Market Updates
8 Jun 2024

Market Update May 2024

M329121-Evergreen-Email Mike Centred-v1.jpg  By Mike Ross


Global Share Markets

In May, global share markets rose, reversing their losses in April. IT stocks once again led the move higher. Nvidia was a stand-out, delivering a 28% gain and surpassing the market capitalizations of entire national stock markets like Germany and the UK. At the time of writing, it has become the most valuable company in the world, surpassing Microsoft and Apple.

During the month, the New Zealand dollar rose, which muted returns for (unhedged) NZ investors. 

New Zealand Share Market

The New Zealand share market had a challenging month, declining by 0.8%. New Zealand Listed Property suffered a significant drop of 3.0%. One bright spot in the New Zealand market was the performance of the electricity companies, which rose following the announcement of a significant extension to the life of the aluminium smelter at Tiwai Point. 

Bond Markets

Bond markets delivered positive returns in May, reflecting a more stable fixed-interest environment. Both NZ and global bonds rose 0.9%. The US 10-year government bond yields fell by 20 basis points to 4.5%, while New Zealand’s 10-year yields decreased by 10 basis points to 4.8%. These movements indicate a general easing in bond yields, suggesting that investors are increasingly seeking the relative safety of fixed-income securities amid ongoing economic uncertainties.



Newsletter Signup

First Name *
Last Name *
Email Address *



Find us