Generate’s Investment Distribution Manager Matt Hanchet talks to Investment Specialist Greg Smith about the key market themes from August – from a strong global reporting season and continued AI investment to volatile bond markets, New Zealand company results and the latest Reserve Bank decision.

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Topics covered

• Global earnings remained resilient. What did the latest reporting season tell us about the health of companies and the wider economy?
• AI continued to be a major market theme. Nvidia, Microsoft, Amazon and AMD were among the companies highlighting how AI investment is translating into revenue and earnings – while the opportunities are increasingly extending beyond the technology sector.
• Bond markets had a volatile month. Greg explains how inflation, employment data, government debt and central bank expectations influenced yields, the US dollar and gold.
• New Zealand companies were back in the spotlight. Hear what results from Fisher & Paykel Healthcare, Vulcan Steel, Port of Tauranga, Spark, Fletcher Building, The Warehouse and Air New Zealand could be telling us about the domestic economy.
• The Reserve Bank was also in focus. Matt and Greg discuss the latest interest rate decision, inflation pressures and what the Bank’s messaging could mean for the economic outlook.

Generate’s TPA Distribution Manager Paula Damen talks to Investment Specialist Greg Smith about the key market themes from September – from continued momentum in artificial intelligence and higher global interest rates to the growing political focus on the future of KiwiSaver.

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Topics covered

🤖 AI remained a major market theme. Greg looks at strong gains across several technology and AI-related companies, including Meta, Micron, Lumentum and KLA, and explains why the opportunity increasingly extends beyond AI models to the infrastructure needed to power them.

📈 Central banks moved rates higher. The Federal Reserve, European Central Bank, Bank of Japan, Reserve Bank of Australia and Reserve Bank of New Zealand all tightened policy as inflation remained a key concern. Greg discusses what higher rates and rising bond yields could mean for markets.

💻 Technology earnings remain important. While valuations continue to attract attention, many of today’s AI leaders are producing strong revenue, earnings and cash flow growth. Greg explains why identifying the companies that can turn AI investment into sustainable profits remains crucial.

🇳🇿 KiwiSaver is becoming a bigger policy discussion. With different political parties proposing changes to how KiwiSaver contributions could work, Paula and Greg discuss why the broader debate is increasingly focused on participation, contribution levels and helping New Zealanders build larger retirement balances. Labour, for example, is proposing compulsory employer contributions rising to 6% by 2032, while current default employee and matching employer contribution rates are 3.5%.