Shared Lunch

In this bonus clip from our election conversation, Both Sides Now hosts Eve McCallum and Alex Martin discuss whether KiwiSaver should help young New Zealanders buy their first home, and where the limits on withdrawals should sit. They also explore why property remains such a popular investment in New Zealand, whether younger generations are thinking differently about building wealth, and what could encourage more people to invest in shares and local businesses. Hear the full Shared Lunch election conversation, What this election means for your portfolio, wherever you get your podcasts.For more places to follow Shared Lunch—check out http://linktr.ee/sharedlunch Shared Lunch is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand. It is not financial advice. Information provided is general only and current at the time it’s provided, and does not take into account your objectives, financial situation and needs. We do not provide recommendations and you should always read the disclosure documents available from the product issuer before making a financial decision. Our disclosure documents and terms and conditions—including a Target Market Determination and IDPS Guide for Sharesies Australian customers—can be found on our relevant Australian or NZ website. Investing involves risk. You might lose the money you start with. If you require financial advice, you should consider speaking with a qualified financial advisor. Past performance is not a guarantee of future performance. Appearance on Shared Lunch is not an endorsement by Sharesies of the views of the presenters, guests, or the entities they represent. Their views are their own.See omnystudio.com/listener for privacy information.

↑ WHAT'S UP — The S&P 500 rose 1.2% for the week and the Nasdaq gained 0.6%, both hitting record highs early in the week. Chipmakers gave AI stocks an early lift: Marvell raised its long-term revenue outlook, and AMD said it will lift chip output next year. Closer to home, the ASX 200 edged up 0.4% and the NZX 50 gained 0.5%. ↓ WHAT’S DOWN — The University of Michigan's consumer sentiment survey fell, and Americans' view of current conditions hit its weakest since 1951. In Australia, Westpac's consumer sentiment index fell almost 5%. US telcos T-Mobile, AT&T and Verizon fell sharply as SpaceX agreed to buy a block of nationwide spectrum, a step towards turning Starlink into a mobile carrier. ! BIGGEST SURPRISES — US 10-year and 30-year Treasury yields both hit their highest levels since 2002, with heavy government borrowing, fiscal worries, and growing AI-related debt. Fed minutes added pressure: all 19 officials backed September's hike, and most saw another needed by year-end. Fed Governor Christopher Waller said more hikes are likely but don't have to come back-to-back. ◎ WHAT TO WATCH — Analysts expect S&P 500 earnings to grow almost 30% for the September quarter, according to FactSet. JPMorgan, Goldman Sachs, Wells Fargo and Citi report on Tuesday US time, followed by Bank of America and Morgan Stanley on Wednesday. On the economic calendar, the RBA releases its September minutes and NAB business confidence on Tuesday, China and the US release September inflation on Wednesday, Australia's September labour force data lands on Thursday, and eurozone September inflation closes out the week on Friday. ◈ BIGGER PICTURE — Investors are paying closer attention to how AI growth gets funded. SpaceX is reportedly looking to raise $40 billion in debt, and the Financial Times reported OpenAI's annualised revenue was closer to $50 billion than the $70 billion widely reported earlier. In Australia, AI infrastructure company Firmus withdrew its planned ASX listing after reportedly failing to attract enough demand amid valuation concerns. Add rising bond yields, a Fed leaning towards more hikes, and Brent crude around US$104 a barrel on Middle East tensions, and the cost of capital is back in focus. Disclaimer: Sharesies Market Movements is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand. This video is general market commentary and educational in nature. It is not financial advice and does not take into account your personal objectives, financial situation or needs. Information is current at the time of recording and may be subject to change. We do not provide recommendations and nothing in this video should be taken as a recommendation to buy or sell any financial product. Investing involves risk. You might lose the money you start with. Past performance is not indicative of future performance. If you require personal financial advice, you should consider speaking with a qualified financial adviser. Our disclosure documents and terms and conditions, including a Target Market Determination and IDPS Guide for Sharesies Australian customers, are available on our relevant Australian or NZ website.See omnystudio.com/listener for privacy information.

Air NZ CEO Nikhil Ravishankar joins Shared Lunch one year into the top job.  After six years of crises, including ongoing oil shocks, he’s upbeat about the next chapter as almost all aircraft are back flying.   We learn how AI is making a huge impact on operations, what’s different about the airline’s strategy reset, and the vexed question of affordability for domestic passengers.  Nikhil says 40 million Americans fly long-haul and for many NZ is on their bucket list, but fewer than 1%  come here. He’s determined to change that with Air NZ’s sleep products including the new SkyNest or ‘bunk bed in the sky’.  For more places to follow Shared Lunch—check out http://linktr.ee/sharedlunch Shared Lunch is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand. Information is current at the time it’s provided. Any advice provided is general advice only and does not take into account your objectives, financial situation and needs. We do not provide recommendations and you should always read the disclosure documents available from the product issuer before making a financial decision. Our disclosure documents and terms and conditions—including a Target Market Determination and IDPS Guide for Sharesies Australian customers—can be found on our relevant Australian or NZ website. Investing involves risk. You might lose the money you start with. If you require financial advice, you should consider speaking with a qualified financial advisor. Past performance is not a guarantee of future performance. Appearance on Shared Lunch is not an endorsement by Sharesies of the views of the presenters, guests, or the entities they represent. Their views are their own. Sharesies has a commercial relationship with Air New Zealand.See omnystudio.com/listener for privacy information.

SHARESIES · MARKET UPDATE · Week of 28 September 2026Jacki Neumann, Head of Capital Markets ↑ WHAT'S UP — The S&P 500 rose 1.2% for the week and the Nasdaq gained 2.1%, hitting a record high. Meta jumped almost 13% after its AI agent, Muse, topped US App Store downloads. Microsoft added 4.5% on reports of Copilot discounts for business customers.  ↓ WHAT’S DOWN — The ASX 200 fell 0.8%, its fourth straight weekly loss, and closed at its lowest since mid-June. It’s down around 4.5% for September, with utilities the weakest sector last week at around −5.2%. Oracle fell over 7% after invoking force majeure on its New Mexico data centre, citing power and permit delays. ! BIGGEST SURPRISES — The US 10-year Treasury yield topped 5.2% on Thursday, driven by strong business data, weak Treasury auctions, and hawkish Fed comments. Markets now see a 66% chance of an October Fed hike. In Australia, unemployment rose to 4.6%, the highest since late 2021, though employment grew more than expected. ◎ WHAT TO WATCH — The RBA’s latest decision comes on Tuesday afternoon, with a hike to 4.60% around 90% priced in. August household spending is also out Tuesday. Wednesday brings Australian inflation, building approvals and private sector credit, plus China's manufacturing PMI and US core PCE. US non-farm payrolls land Friday. ◈ BIGGER PICTURE — The Fed, RBA, and RBNZ all have hikes on the table. RBNZ Governor Anna Breman warned inflation will run higher if oil prices persist, and markets price a 70% chance of an October hike. Brent briefly fell below $100 a barrel on US-Iran hopes, then swung with news on the Strait of Hormuz. The US and China extended their trade truce to January, due to meet again at APEC in November. Disclaimer: Sharesies Market Movements is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand. This video is general market commentary and educational in nature. It is not financial advice and does not take into account your personal objectives, financial situation or needs. Information is current at the time of recording and may be subject to change. We do not provide recommendations and nothing in this video should be taken as a recommendation to buy or sell any financial product. Investing involves risk. You might lose the money you start with. Past performance is not indicative of future performance. If you require personal financial advice, you should consider speaking with a qualified financial adviser. Our disclosure documents and terms and conditions, including a Target Market Determination and IDPS Guide for Sharesies Australian customers, are available on our relevant Australian or NZ website.See omnystudio.com/listener for privacy information.

With markets expecting the RBA to lift Australia’s cash rate, Victoria Devine breaks down what another rise could mean for households, savers and investors. Victoria joins Sharesies co-founder Brooke Roberts to explain the potential impact on mortgage repayments, including what a 0.25 percentage point rise could mean for someone with a $600,000 mortgage. Plus, why she says mortgage holders shouldn’t treat their home loan as “set and forget”, particularly when household budgets are already under pressure. For more places to follow Shared Lunch—check out http://linktr.ee/sharedlunch Shared Lunch is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand. It is not financial advice. Information provided is general only and current at the time it’s provided, and does not take into account your objectives, financial situation and needs. We do not provide recommendations and you should always read the disclosure documents available from the product issuer before making a financial decision. Our disclosure documents and terms and conditions—including a Target Market Determination and IDPS Guide for Sharesies Australian customers—can be found on our relevant Australian or NZ website. Investing involves risk. You might lose the money you start with. If you require financial advice, you should consider speaking with a qualified financial advisor. Past performance is not a guarantee of future performance. Appearance on Shared Lunch is not an endorsement by Sharesies of the views of the presenters, guests, or the entities they represent. Their views are their own.See omnystudio.com/listener for privacy information.

SHARESIES · MARKET UPDATE · Week of 21 September 2026Jacki Neumann, Head of Capital Markets ↑ WHAT'S UP — New Zealand was the standout, with the NZX 50 up 1.2% after Q2 GDP beat expectations at 0.2% for the quarter, lifting annual growth to a two-year high of 2.6%. The Nasdaq also edged up 0.7%, even as the broader US market drifted. ↓ WHAT'S DOWN — The S&P 500 slipped 0.1% and the ASX 200 dipped 0.1%, with hawkish central banks and elevated oil keeping a lid on equities. Tech sentiment took a knock from an AI safety essay by Anthropic CEO Dario Amodei, which called for a slowdown in model scaling. ! BIGGEST SURPRISES — The Fed's 25 basis point hike came with a hawkish message, as Chair Warsh said he'd be "hard pressed to call current policy restrictive" and 16 of 18 officials pencilled in at least one more hike this year, pushing the 10-year Treasury yield above 5% to its highest since 2007. RBA Governor Bullock warned that August's flagged inflation risks are now arriving, lifting the odds of a September hike to around 85%. ◎ WHAT TO WATCH — Governor Bullock and Assistant Governor Hunter both make public appearances on Tuesday, before Thursday's August employment figures feed directly into the RBA's rate decision next Tuesday. Overseas, Chinese President Xi Jinping's state visit to Washington begins Thursday, with AI high on the agenda. ◈ BIGGER PICTURE — Globally, things are still skewing hawkish, with the Fed, Bank of England and Bank of Japan all signalling or delivering tighter policy. Because US Treasuries anchor asset prices worldwide, a 10-year yield above 5% squeezes equity valuations everywhere by discounting future earnings more heavily. With oil still above US$100 and the RBA now odds-on to hike again, the tension between persistent inflation and stretched borrowers is only building. Disclaimer: Sharesies Market Movements is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand. This video is general market commentary and educational in nature. It is not financial advice and does not take into account your personal objectives, financial situation or needs. Information is current at the time of recording and may be subject to change. We do not provide recommendations and nothing in this video should be taken as a recommendation to buy or sell any financial product. Investing involves risk. You might lose the money you start with. Past performance is not indicative of future performance. If you require personal financial advice, you should consider speaking with a qualified financial adviser. Our disclosure documents and terms and conditions, including a Target Market Determination and IDPS Guide for Sharesies Australian customers, are available on our relevant Australian or NZ website.See omnystudio.com/listener for privacy information.

Why do so many capable women believe they're "bad with money"? Jessica Brady, a financial adviser who built and sold her own firm, and Caitlin Judd, entrepreneur and business coach, join us from their Grow and Let Go book tour to explain what they had to unlearn to get here. How do the beliefs we form early on follow us into our investing decisions? What happens when a sudden windfall arrives before you've really thought about what you want? Why does ownership matter more than ever?  Plus, what Jess did with the money when she sold her business, and why she still prefers the op shops. For more places to follow Shared Lunch—check out http://linktr.ee/sharedlunch Shared Lunch is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand. It is not financial advice. Information provided is general only and current at the time it’s provided, and does not take into account your objectives, financial situation and needs. We do not provide recommendations and you should always read the disclosure documents available from the product issuer before making a financial decision. Our disclosure documents and terms and conditions—including a Target Market Determination and IDPS Guide for Sharesies Australian customers—can be found on our relevant Australian or NZ website. Investing involves risk. You might lose the money you start with. If you require financial advice, you should consider speaking with a qualified financial advisor. Past performance is not a guarantee of future performance. Appearance on Shared Lunch is not an endorsement by Sharesies of the views of the presenters, guests, or the entities they represent. Their views are their own.See omnystudio.com/listener for privacy information.

SHARESIES · MARKET MOVEMENTS · 17 AUGUST 2026Jacki Neumann, Head of Capital Markets at Sharesies Note: Filmed Monday 17 August ↑ WHAT’S UP — US markets saw slight gains, with the S&P 500 up 0.4% and the Nasdaq up 0.2%, while the NZX 50 added 0.2%. Super Micro jumped 19% on an earnings beat and upbeat guidance, and Commonwealth Bank posted a record annual cash profit of $10.98 billion, up 7%. ↓ WHAT'S DOWN — The ASX 200 fell 1.6%, dragged by financials: Westpac lost almost 6% after a 20% drop in mortgage applications, while Suncorp's and IAG's profits fell 44% and 25% respectively. In the US, solid numbers didn't prevent declines, with RocketLab down about 7%, Cisco 5% and AST SpaceMobile 4% despite reporting record or fast-growing revenue. ! BIGGEST SURPRISES — The RBA held at 4.35% but Governor Bullock struck a hawkish tone, refusing to rule out further hikes on inflation concerns. In contrast, US core CPI eased to a multi-year low of 2.5% and core PPI slowed to 4.2%, cutting the odds of a September Fed hike to 28%. ◎ WHAT TO WATCH — Australian earnings ramp up, with NAB's update rounding out the big four banks and results due from JB Hi-Fi, BHP, Fortescue, CSL and Cochlear among others. The FOMC's July minutes land Wednesday and Australia's July unemployment rate follows on Thursday. ◈ BIGGER PICTURE — Australian bank earnings showed resilience but growing exposure to a cooling housing market. In the US, AI and space infrastructure investments stalled despite strong revenue growth, with investors zeroing in on losses, margins, and execution risks. Meanwhile, a hawkish RBA is still weighing hikes just as softening US inflation nudges the Fed the other way. Disclaimer: Sharesies Market Movements is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand. This video is general market commentary and educational in nature. It is not financial advice and does not take into account your personal objectives, financial situation or needs. Information is current at the time of recording and may be subject to change. We do not provide recommendations and nothing in this video should be taken as a recommendation to buy or sell any financial product. Investing involves risk. You might lose the money you start with. Past performance is not indicative of future performance. If you require personal financial advice, you should consider speaking with a qualified financial adviser. Our disclosure documents and terms and conditions, including a Target Market Determination and IDPS Guide for Sharesies Australian customers, are available on our relevant Australian or NZ website.See omnystudio.com/listener for privacy information.