Investors told: Don't bail out just yet
ANZ chief economist Cameron Bagrie told Good Returns he thought the global economy was look very wobbly. US equities were down after a very volatile week, US 10-year Treasury bonds were down, copper prices had tanked and oil prices were down.
“That tells you something about global demand. There’s growing concern around what is going on around the globe. We’re starting to see signs that the global economy is slowing rapidly. The risk profile is heightened, the global scene is far from stable," he said.
He said that could have an effect on the New Zealand economy, too. “If you go back and look at every time there’s been a big turn in the economy, it does tend to coincide with the international situation.”
But Brian Gaynor, of Milford Asset Management, did not agree the outlook was so negative. “Oil-producing countries have a problem but the US is the biggest economy by a long way and all the signs are very positive there.”
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