19 July 2022 - NZ Inflation | Another TowerCo Sale - Infratil Global markets were mixed overnight, as US markets (S&P 500 Index -0.8%) reversed earlier gains after Bloomberg reported that Apple would slow hiring and spending in some parts of its business next year in response to what are expected to be more challenging economic conditions. Prior to the Apple (-2.1%) announcement, a strong start to the trading session was helped by strong results from Goldman Sachs (+2.5%) and Bank of America (+0%), both benefiting from the higher interest rate environment, with the former also getting a boost from increased trading volume. European Markets (Stoxx 600 Index, +0.8%) were up as material stocks led gains amidst a recovery in commodity prices. Data yesterday showed New Zealand inflation (CPI) increased by +7.3% (reaching a new 32-year high), ahead of expectations of +7.1%. This has now opened the door for a potential 75 basis point hike in August,...