Why the New Zealand sharemarket is heading south
19 Feb, 2021 04:00 PM
6 minutes to read
The New Zealand sharemarket is down 7 per cent this year. Photo Greg Bowker
After a stellar performance in 2020, the New Zealand sharemarket has underperformed other markets so far this year by quite some margin. The local market s S&P/NZX 50 index finished the year at 13,092 – up 14 per cent on the substantial lift in the previous year.
But since early January the index has dropped by 7 per cent.
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Australia s ASX200 has done better, firming 3.4 per cent.
Softness in the local market can in large part can be put down to bond yields, which are gaining as investors start to factor in inflationary pressure further down the track.
Stellar US Retail Sales Suggests Upside Risks to GDP USD and US Yields Extend Higher, Gold Drops Advertisement
US Retail Sales Surge, US Dollar Extends Higher
A sizeable beat on the latest retail sales data, which has also surpassed the high estimate. The retail control figure, which is important for GDP trackers, rose 6%, surpassing expectations of 0.8% and beating the high estimate of 4.3%. In turn, this will likely feedthrough into upward revisions for US GDP. The initial reaction has seen the USD extend gains across the board to hit fresh session highs with US yields also picking up, while gold remains on the backfoot as 1764 comes into focus. (Full analysis on gold here ).
Mt John Observatory offers a night with NZ s biggest telescope
16 Feb, 2021 08:39 PM
2 minutes to read
Mt John Observatory is New Zealand s leading obsevatory, it s also the most scenic. Photo / Supplied
Mt John Observatory is New Zealand s leading obsevatory, it s also the most scenic. Photo / Supplied
NZ Herald
For the fist time the University of Canterbury will be opening the doors of its mountain-top observatory to the public in a stellar overnight experience. It ll be just them, the experts and 50 million distant solar systems.
Mt John Observatory is a haven for astronomers in the Aoraki Mackenzie Dark Sky Reserve. The six high-powered telescopes are normally only seen by researchers. Since 1965 Mt John has become a site of pilgrimage for astro-tourism. However few guests get access to New Zealand s most powerful telescopes – let alone for the whole night.