Fund Status:
Portfolio Val: $1,102,808
Performance: Portfolio +0.28% | Benchmark -0.84%
Cash: $106,576
Bought/Sold None
Overnight Markets
US indices fell overnight as calls for an AI slowdown put pressure on megacap tech names. In contrast, China’s foreign ministry rejected the AI slowdown push. Meanwhile the US 10-year yield rose toward 5.0%, and oil continued to rise above US$100/bbl. The combination of rising rates and elevated input costs leaves equities vulnerable to a derate. Interestingly, Canada is looking to become an associate member of the EU, rather than get a full membership. This would surely mitigate the risk Canada faces with US tariffs, as the US remains their largest trading partner.
Australian Market
The ASX200 fell -0.89% led by Materials (-2.21%) as we saw weakness in iron ore, and copper names. Energy (-1.63%) surprisingly failed to rally despite oil prices. Meanwhile Healthcare (+1.50%) continues its rally. An interesting market dynamic when materials and financials fall is a rise in healthcare. The rule of thumb that Healthcare is not as affected by macroeconomic factors like yields, oil, or rates appears to be playing out.
Portfolio Commentary
The portfolio posted a positive result (+0.28%) while the ASX300 fell (-0.84%). Contributors were Life360 (+5.02%), BVS (+2.96%), and JBH (+2.85%). An interesting mix of tech and discretionary. Detractors were equally an eclectic mix of names; OBM (-5.26%), Monash IVF (-3.82%), GDG (-2.32%), and WDS (-2.21%).
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.