Harbour Outlook: Escalating trade tensions impact markets

Key market movements

• Global equities were sharply lower in unhedged New Zealand dollar terms in March, with the MSCI All Country World Index (ACWI) declining 5.0%. With the NZD strengthening against the USD, returns in hedged terms were -4.5% for the month.
• Locally, the New Zealand equity market continued its poor start to the year with the S&P/NZX...
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