Shares lead slow-boat convoy
Some three years ago, many commentators were forecasting the end of the era of big returns from share and bond markets and the beginning of a period of more moderate, single-digit returns.
Monday, July 4th 2005, 8:06AM
by The Landlord
Predictably, over the following 12 months the US sharemarket rallied by 44 per cent.However, midway through 2005 most financial markets are now well and truly in the doldrums with most returns comprising dividend income and little in the way of capital growth.
International shares lead the slow-boats with a 2.1 per cent return for the first six months of 2005, but New Zealand shares haven't offered much respite either with a 3.5 per cent gain in the half year, most of which will be due to dividends.
Global bonds, which can often be relied on to perform when shares don't, have really let the side down with the index off by 1.5 per cent in the period.
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