US market struggles amidst chaotic pace of new US administration
Select Monthly View – March 2025
After a strong start to the year, global share markets drifted lower in February, on US policy uncertainty and the fading of the AI euphoria that drove US share markets higher in 2024.
Some key highlights from the Select Monthly View (March 2025) report:
- US policy uncertainty means the outlook for share markets is mixed. Despite recent weak data, the US economy remains resilient, corporate earnings across America and Europe are healthy, and central banks have room to reduce interest rates further.
- In NZ, further cuts to interest rates and the likelihood that domestic corporate earnings are at cyclical lows provide the opportunity for the local share market to perform solidly in the year ahead.
- Domestic and global bonds offer stability of income and the potential for capital gains from further reductions in interest rates as inflation continues to decline and central banks progress interest rate cuts.
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