US equities continued to underperform our own last week given technology accounts for ~28% of the S&P 500, however, given our wider views around relative performance if the appreciation in bond yields pause, we would expect some performance catch-up in the short term. i.e. US stocks to outperform Australian stocks for the remainder of Q2.
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Monthly Update: Portfolio performance and positioning during October
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Thursday 11th September – Dow off -220pts, SPI off -20pts
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Buy Hold Sell: The best and worst performers of FY25
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Wednesday 10th September – Dow up +196pts, SPI down -4pts
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MM remains bullish US stocks
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