Fund Status:
Portfolio Val: $1,133,951
Performance: Portfolio -0.12% | Benchmark -0.01%
Cash: $95,467
Bought/Sold None
Overnight Markets
The US market was weak after Labor Day, with the Dow while the US 10 Year yield held near 4.80%. Geopolitical tensions escalated as missile strikes disrupted Saudi energy infrastructure, driving oil up further towards US$99/bbl. Copper jumped as a result of the tariff tantrum. The market feels like it is waiting for the upcoming US CPI and PPI prints.
Australian Market
The ASX 200 dropped -0.11%. Gains from Energy (+2.6%) and Materials (+1.1%) were offset by weakness in Financials (-0.9%) and Tech (-1.4%). Yield sensitive and growth names saw renewed selling pressure as concerns over the direction of rates remained front and centre.
Portfolio Commentary
The portfolio declined -0.12%, slightly underperforming the ASX30 (-0.01%) due to Tech names. Performance was dragged down by GDG (-5.04%), GLF (-4.35%), Xero (-3.53%), and 360 (-1.95%). Thankfully, a few other names came in to defend the portfolio: HMC (+4.22%), SRG (+3.40%), C79 (+3.31%), and MP1 ( +2.97%). Woodside (+2.60%) also rallied following the oil price.
Investment Activity
None
Disclaimer: This is a paper portfolio. Content is for educational purposes only and does not constitute financial advice. Always do your own research.