SEPTEMBER 2018 // GLOBAL MARKET COMMENT

Market Overview

We are pleased to bring you the latest edition of Market Overview, a quarterly commentary on market events from Q3 2018. Key highlights from the quarter were:

• NZ equities made strong gains for the quarter, however gains were limited by a sharp drop in local business confidence and some dovish comments from Reserve Bank of New Zealand (RBNZ) governor
• Global equities were stronger in the September quarter, largely driven by the US and Japan.
• Global bonds produced periodic bouts of volatility, which were driven largely by global trade and geopolitical concerns, lent some support to a flat third quarter.