President Donald Trump recently announced that the United States and the European Union reached a framework for a trade deal.
Trump reportedly had talks with European Commission President Ursula von der Leyen in Scotland.
Harbour Asset Management spokesperson Shane Solly explains further.
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Speaker 1 (00:00):
With me. Now is Shane Solly Harbor Asset Management has Shane. Hello, Heather, Now,
how have the markets reacted to the EU and the
US doing this trade deal?
Speaker 2 (00:09):
Well, yeah, after a bit of golf in the weekend
in Scotland, mister Trump on bar of the US is
cut a deal with the European Union and now see
EU face fifteen percent tariffs on most of US exports.
Speaker 3 (00:21):
That means they avoid.
Speaker 2 (00:22):
The thirty percent plus number that mister Trump tariff did
a little while ago.
Speaker 3 (00:26):
It doesn't include pharmaceuticals and metal sets. It's except so
the market likes it.
Speaker 2 (00:31):
But what the market's also focusing on either is tonight
in Stockholm, mister percent the Treasury Secretary for the US
is meeting with the Chinese and there's arena come out
of the South China Morning Post saying that they're going
to extend the tariff truce by another three months. No sources,
of course, but that would mean that we're seeing that
can kick down the road. Seeing I think this greater
(00:54):
certainty that we're seeing at the European deal, the Japanese
deal last year, just taking some of the risk away
for capital markets, supporting a further broad based recovery and
shear markets. Even our share market today had a bit
of a balance today either up zero point four percent,
but will take it so be more positive.
Speaker 1 (01:13):
How good do you think that Donald Trump's pressure is
going to lead to a cut by the Federal Reserve
this week?
Speaker 2 (01:21):
Certainly heaping on the pressure the short answers Our markets
don't think so. The market thinks the Federal Open Market
Committee it's going to hold the Fed funds rate at
four point twenty five four point five percent range on Thursday,
watching for changes in the language, which you know, the
US economy is in pretty resilient. The inflation is coming
in lower, of course, so it's getting harder for the
(01:43):
US Federal Reserve to say no. Every central bank wants
to see what tarrifs do, so there'll be a few
dissenters on the committee. We would not be surprised to
see cuts by the US Federal Reserve later in the year.
Markets thinking December and another one in twenty six. On Thursday,
we might get a little bit of a skew saying
the cuts are going to be earlier or more substantial,
(02:04):
So that will be driven by data. Mister Powell has
j Powell, the head of the FED, has been very
resilient in pushing back on political pressure.
Speaker 1 (02:14):
Now we've had quite a few changes a spark today.
What's the market made of this?
Speaker 2 (02:19):
Yeah, so we've seen a couple of board member changes
Lindsay Wright, Vincehawksworth and Trek Robaouta coming on and Gordon McLeod.
Speaker 3 (02:28):
And Sheridan Broadbent coming off. Spark.
Speaker 2 (02:31):
The Altellicomusine has been on a lot of pressure to
refresh the board after share price has underperformed basically over
the last three years.
Speaker 3 (02:40):
It's underperformed by forty.
Speaker 2 (02:41):
Eight percent versus the rest of the market, Ie the
New Zealand sharemakers have about forty percent in the three
years and sparks down thirty four percent. How did the
market react? Went up the share price. Sparkshire price went
up zoerio point four percent to two dollars forty nine
So kind of people are taking it and saying yep.
Speaker 3 (02:59):
To actually interesting, useful, Let's see what happens next. Yes,
see some.
Speaker 1 (03:04):
More absolutely brilliant stuff. Shane, thanks so much, look after yourself.
We'll talk to you next week. Shane Soly Harbor Asset Management.
Speaker 2 (03:09):
For more from Hither duplessy Allen Drive.
Speaker 3 (03:12):
Listen live to news talks.
Speaker 2 (03:13):
It'd be from four pm weekdays, or follow the podcast
on iHeartRadio.
With me. Now is Shane Solly Harbor Asset Management has Shane. Hello, Heather, Now,
how have the markets reacted to the EU and the
US doing this trade deal?
Speaker 2 (00:09):
Well, yeah, after a bit of golf in the weekend
in Scotland, mister Trump on bar of the US is
cut a deal with the European Union and now see
EU face fifteen percent tariffs on most of US exports.
Speaker 3 (00:21):
That means they avoid.
Speaker 2 (00:22):
The thirty percent plus number that mister Trump tariff did
a little while ago.
Speaker 3 (00:26):
It doesn't include pharmaceuticals and metal sets. It's except so
the market likes it.
Speaker 2 (00:31):
But what the market's also focusing on either is tonight
in Stockholm, mister percent the Treasury Secretary for the US
is meeting with the Chinese and there's arena come out
of the South China Morning Post saying that they're going
to extend the tariff truce by another three months. No sources,
of course, but that would mean that we're seeing that
can kick down the road. Seeing I think this greater
(00:54):
certainty that we're seeing at the European deal, the Japanese
deal last year, just taking some of the risk away
for capital markets, supporting a further broad based recovery and
shear markets. Even our share market today had a bit
of a balance today either up zero point four percent,
but will take it so be more positive.
Speaker 1 (01:13):
How good do you think that Donald Trump's pressure is
going to lead to a cut by the Federal Reserve
this week?
Speaker 2 (01:21):
Certainly heaping on the pressure the short answers Our markets
don't think so. The market thinks the Federal Open Market
Committee it's going to hold the Fed funds rate at
four point twenty five four point five percent range on Thursday,
watching for changes in the language, which you know, the
US economy is in pretty resilient. The inflation is coming
in lower, of course, so it's getting harder for the
(01:43):
US Federal Reserve to say no. Every central bank wants
to see what tarrifs do, so there'll be a few
dissenters on the committee. We would not be surprised to
see cuts by the US Federal Reserve later in the year.
Markets thinking December and another one in twenty six. On Thursday,
we might get a little bit of a skew saying
the cuts are going to be earlier or more substantial,
(02:04):
So that will be driven by data. Mister Powell has
j Powell, the head of the FED, has been very
resilient in pushing back on political pressure.
Speaker 1 (02:14):
Now we've had quite a few changes a spark today.
What's the market made of this?
Speaker 2 (02:19):
Yeah, so we've seen a couple of board member changes
Lindsay Wright, Vincehawksworth and Trek Robaouta coming on and Gordon McLeod.
Speaker 3 (02:28):
And Sheridan Broadbent coming off. Spark.
Speaker 2 (02:31):
The Altellicomusine has been on a lot of pressure to
refresh the board after share price has underperformed basically over
the last three years.
Speaker 3 (02:40):
It's underperformed by forty.
Speaker 2 (02:41):
Eight percent versus the rest of the market, Ie the
New Zealand sharemakers have about forty percent in the three
years and sparks down thirty four percent. How did the
market react? Went up the share price. Sparkshire price went
up zoerio point four percent to two dollars forty nine
So kind of people are taking it and saying yep.
Speaker 3 (02:59):
To actually interesting, useful, Let's see what happens next. Yes,
see some.
Speaker 1 (03:04):
More absolutely brilliant stuff. Shane, thanks so much, look after yourself.
We'll talk to you next week. Shane Soly Harbor Asset Management.
Speaker 2 (03:09):
For more from Hither duplessy Allen Drive.
Speaker 3 (03:12):
Listen live to news talks.
Speaker 2 (03:13):
It'd be from four pm weekdays, or follow the podcast
on iHeartRadio.
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