This year has started very strongly for share investors, with returns in the March quarter much better than many would’ve expected. World shares rose 7.8 per cent and as was the case in 2023, the US and Japan led the charge. New Zealand assets lagged, with the NZX 50 sharemarket index rising 2.8 per cent and corporate bonds posting a marginal gain. As was the case in 2023, well-diversified investors with a global mindset have been handsomely rewarded. Central banks will remain a focal point in the months ahead, with interest rate cuts on the horizon but the timing difficult to pick. Another important test for financial markets could be the US corporate reporting season, which starts next week, with the bar higher on the back of recent share price gains.

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“What did the council decide on item 42?” — answered with the speaker and the moment.