Small correction in global share markets in October

Select Wealth Management has just published their latest Monthly View report (November 2024), focusing on global market performance in October.

Click here to download the full report.

Here’s a quick summary of the key things to know

• A small correction in global share markets in October followed a dramatic rise in longer-term US interest rates.
• Global bond yields moved higher on better-than-expected US economic data and a focus on the growing size of America’s national debt. 
• Stronger than forecast US economic data was one of the reasons why US longer-term interest rates rose in October.
• The better-than-expected economic data is positive for corporate earnings.
• Encouragingly, as the year has progressed more companies are performing well relative to the market.
• Further reductions in interest rates by central banks and continued US economic growth will be positive for global share markets.
• New Zealand’s share market made gains on the prospect of further interest rate reductions by the RBNZ and on company specific announcements.

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