High growth Tech stocks such as Amazon and Netflix were hit the hardest, as rising Treasury yields and trade-related worries sapped investor risk appetite.
Global markets sold off on Friday, as the US unemployment rate fell to near a 49-year low of 3.7%, pointing to a further tightening in labour market conditions. The data saw another rise in US Treasury yields, with the 10-year at its highest levels since
The NZ market added to gains in September, with the NZX 50 market index adding +0.4% for the month and trading at all-time highs. In contrast, the Australian market retraced from 10-year highs, with the ASX 200 market index losing -1.77% in September.
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Hamesh is Head of Research and has worked as an analyst for 5-years in the Investment Strategy Team at Goldman Sachs JB Were in Auckland, and has previously spent time at the Reserve Bank of NZ. Hamesh has completed a Commerce (1st Class Honours - Finance) & Law Degree at the University of Auckland.
Jeremy has over 10 years of experience in stock investing and his most recent role was as a broker in Auckland. Prior to that Jeremy spent time in London on his OE. Jeremy completed his tertiary studies at the University of Otago.
Andrew has been involved in the financial markets in NZ and overseas since 2001 working for one of the largest Wealth Management Firms in NZ until 2005 and in 2008 set up Halifax New Zealand. Andrew holds a Degree in Economics & Accounting, a NZX Diploma, a Graduate Diploma in Applied Finance & Investment and is an ASX Level 2 Derivatives Adviser.
Pavan acquired a Property (Honours) and Commerce degree from the University of Auckland, while working in the property industry in a research and valuation role. Prior to joining the team he took a break from professional services and was involved with running his own business for a few years.