Media

The Devon Trans-Tasman Fund has been awarded Fund Manager of the Year: Domestic Equities in 2024, New Zealand.

Devon Head of Retail Greg Smith talks to ZB’s Mike Hosking about what drove the surge in Fisher & Paykel Healthcare’s share price on Friday. He also discusses the very differing reactions to results from Nike and FedEx in the US, both of which are seeing demand normalising in a post Covid world and amidst a slowing economy.

Devon Head of Retail Greg Smith talks to ZB’s Mike Hosking about why US markets took another breather last week, and what the Fed is likely to do this week. Back home he discusses the latest read on the kiwi manufacturing sector ahead of this week’s GDP print. He also looks at whether travel is still running hot, with the latest numbers from Auckland Airport.

To listen to the full market update by Greg Smith please click here.

Devon Head of Retail Greg Smith talks to ZB’s Mike Hosking about “the good and the bad” from the latest jobs numbers in the US, and whether things are going to plan for the Fed. Closer to home he looks at why the banking sector has driven the Australian stock market to record highs.

To listen to the full market update by Greg Smith please click here.

By Greg Smith, Head of Retail at Devon Funds

Global markets were strong in February, led by the US with the Dow and S&P500 both hitting record highs (a feat also matched by the Nasdaq Composite at the start of March). Investors moved on from the lack of a Fed rate cut and remained buoyed by the broader trend of inflation (despite a higher than expected CPI number during the month) coming down, and the belief that the central bank will possibly ease later in the year. A number of soft data points (including soft fourth-quarter GDP figures) boosted this notion. 

Devon Head of Retail Greg Smith speaks to ZB's Mike Hosking about why Japan's stock market has been the best performing globally. Closer to home he discusses Australia's economy which appears to be coming off the boil while NZ's trade deficit has been helped by kiwis buying less, with import volumes falling.

To listen to the full market update by Greg Smith please click here.

Devon Head of Retail Greg Smith talks to ZB's Mike Hosking about the latest surge in tech stocks which has seen the Nasdaq breach a record high previously made in November 2021.  He also discusses what is driving Daimler Truck higher, with the world's largest commercial vehicle manufacturer delivering a "red hot" year. Back home he assesses whether there is any cause for positivity amongst kiwi consumers in the latest consumer confidence read.

Devon Head of Retail Greg Smith speaks to ZB’s Mike Hosking about the latest US inflation numbers with the Fed’s preferred inflation gauge coming in at the highest level in a year.  He also discusses the retail sector in Australia, with retail sales rebounding last month and Harvey Norman upbeat about the outlook despite a slide in first-half sales. Back home he considers whether the glass is getting any “fuller” following the latest ANZ Business Outlook update.

Devon Head of Retail Greg Smith talks to ZB’s Mike Hosking about the RBNZ’s less hawkish-than-expected announcement on the OCR. He also discusses results from Spark, Meridian, and a star showing from cinema software group Vista. Across the Tasman he looks at the Aussie monthly inflation print which has come in much lower than expected.

To listen to the full market update by Greg Smith please click here.

Devon Head of Retail Greg Smith talks to ZB’s Mike Hosking about differing reads on the consumer, with AfterPay owner Block coming in with a strong result, whilst kiwi retail spending has fallen for the 8th quarter in a row. He also discusses how a reduction in spending has also been felt at the country’s largest port, which has seen a sharp fall in imports.

To listen to the full market update by Greg Smith please click here.