It was a mixed May for global equity markets, with the tech sector continuing to outperform, which has seen the NASDAQ 100’s year-to-date gains top 25%, while several other benchmarks were either side of unchanged. Meanwhile, New Zealand markets were modestly lower as investors digested the implications of a further 25 basis point increase in interest rates and the central bank’s suggestion that the hiking cycle had ended.
The month ahead: June 2023