Tech Rebounds as Stagflation Looms
Paper Mandate Market & Portfolio Commentary | 14 April 2026
Fund Status:
Bal Start: $987,912
Bought: SKS
Sold: None
Bal End: $1,005,815.86
Cash: $347,125.75
Market Commentary
The market clawed back its losses overnight. Major benchmarks shook off the weekend’s ceasefire collapse, with the S&P 500 (+1.0%) and Nasdaq (+1.2%) slightly up on rumours the US and Tehran are back at the table. While a naval blockade on Iranian ports remains a concern for energy markets (Brent near $98), traders were still “risk-on” with almost every sector up. Financials and Tech leading the rally. Gold was flat, still hovering at $4,700 (ish).
The ASX 200 drifted into the green on close. Slightly up +0.50%. The strong lead from the US market pushed the Tech sector up (+3.35%) while the Tech Index (XTX) actually ended the day down. RBA Deputy Governor Andrew Hauser has warned that higher inflation and weaker economic activity increase the risk stagflation. Lithium rallied today with Pilbara Minerals (PLS) all-time highs due to Chinese carbonate prices rebounding. A2M ended the session down again, the earnings downgrade was driven by a combination of low inventory. Westpac released a report showing consumer sentiment was down.
Portfolio Commentary
Cuscal (CCL) requested a trading halt in the morning. It then announced it acquired Paymark, an NZpayments infrastructure provider. It will be funded via a fully underwritten placement. News says this will be immediately EPS accretive in FY27. Tech rebounded today so the portfolio has a few key contributors, MP1, XRO, WTC, 360. Performer for the day was C79.
Investment Rationale
Disclaimer: This is a simulated portfolio. Content is for educational purposes only and does not constitute financial advice. Always do your own research.