Fund Status:
Portfolio Val: $1,130,516
Performance: Portfolio -1.85% | Benchmark -0.99%
Cash: $95,467
Bought/Sold None
Overnight Markets
It was another sell-off overnight. Oil prices and bond yield rose, driving Energy (+1.54%) and Utilities (+0.85%) up while the growthier end of the market fell; Tech (-1.00%), Industrials (-1.39%), Cyclicals (-1.89%). Of the Indices, small caps were hit the most (-1.23% Russell 2000). The US 10-year Treasury yield hit 4.78% pushing the yield on the global debt index to the same level as 2008. US job openings were higher in July but demand for workers remains subdued.
Australian Market
The ASX200 suffered a heavy sell-off, dropping -0.97% as rising global bond yields and surging oil prices reignited inflation concerns across equity markets. Weakness was broad based, with heavy selling in Materials (-3.08%) and Tech (-3.35%). Defensive sectors such as Telcos (+0.38%) and Staples (+0.81%) managed to hold ground, but could not offset the whole market. Lastly June quarter GDP came out at 0.4% QoQ, reflecting cautious consumer spending on fuel and travel amidst ongoing geopolitical tensions.
Portfolio Commentary
The portfolio declined -1.85%, underperforming the benchmark (-0.99%) due to losses across high beta tech, and gold. Detractors were Zip (-7.25%), Ora Banda (-6.13%), Life360 (-4.81%), Lovisa (-4.30%), and Megaport (-4.15%). There were some defensive pockets in Monash IVF (+1.99%), EMVision (+1.45%), and Woodside (+1.16%).
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.