Macro Monday – October is living up to its infamous reputation

The worst October in five years has seen active money managers cut their equity exposure to its lowest level in more than 12-months as the trifecta of bad news continues to weigh on stocks. The US S&P500 has already fallen by more than 1% on five occasions in October, and we still have two sessions remaining. With Apple reporting on the 2nd of November, next month also looks likely to start with ongoing elevated volatility.

scroll

OPINION
ACTION

Latest Reports

Alerts 20/01/2026 17:33

Trade Alerts – International Equities Portfolio

We are reducing several positions in the International Equities Portfolio

Afternoon report 20/01/2026 17:06

The Match Out: Tariff jitters send ASX lower

The ASX traded lower for a second consecutive session as renewed trade tensions rattled global risk appetite, following President Trump’s threat to impose fresh tariffs on European nations over Greenland.

Morning report 20/01/2026 09:43

What Matters Today: Reviewing the six new additions to the ASX200

Monday saw the ASX 200 open softly and drift lower to close down -0.3% following President Trump's threats to impose levies on countries opposing his plans to take control of Greenland. Conversely, safe-haven demand pushed gold to fresh all-time highs near $US4,700, while silver surged more than 4%, also notching new record highs. Not surprisingly, gold stocks followed suit, but if MM is correct, it’s time to consider taking some money off the table in precious metals.

Afternoon report 19/01/2026 16:45

The Match Out: Trump inspired weakness hits ASX as volumes pick up

Weakness crept back into the market today as more traders got back behind their desks post Christmas break, with volumes increasing across the board. After a flat start to trade, US Futures came under pressure as Trump threatened 10% tariffs on several European countries from February, rising to 25% in June, unless the European Union agrees to negotiations linked to the “purchase of Greenland”.

Morning report 19/01/2026 09:53

Macro Monday: Back on deck for a big 2026!

It is still early, but so far the year has been encouraging for global equity investors, with stocks pushing higher through January as markets look to extend a fourth consecutive year of solid returns. However, bulls are facing their first crucial test of 2026 with Greenland tensions growing and quarterly US earnings about to start.

Afternoon report 24/12/2025 14:24

The Match Out: ASX slips, Happy Christmas All

A softer session today, giving back a portion of yesterday's solid move, though trading was quiet; volumes anemic and most focus is now on the Christmas break, with a 2.10pm close this afternoon.

Morning report 24/12/2025 10:43

Portfolio Positioning: The Christmas rally kicks into gear

Firstly, from James, Shawn & the MM Team, we wish you a happy and safe festive season. Many thanks for being a wonderful group of members, and your ongoing support throughout the year. It's been a year of two halves for the ASX and MM in many ways, but we’re finishing on the right foot across all portfolios. In todays note, we’ll run through portfolio performance, in a lighter style Christmas Eve report. A reminder, if you are considering investment options in 2026, all Market Matters Portfolios are now open for investment, via Market Matters Invest Direct, including the International Equities Portfolio which has had a stellar year, up over 25%. We will continue to work hard in 2026, building on a solid 2025.

Afternoon report 23/12/2025 16:43

The Match Out: Santa rally in full swing as ASX soars, Goodman Group (GMG) inks major deal

The ASX finished sharply higher, extending its pre-Christmas rally as broad-based buying pushed the market to a six-week high and saw all sectors finish higher for the second day in a row. Optimism around US rate cuts, light year-end volumes and strong US markets overnight combined to lift risk appetite, with real estate and technology leading gains.

Morning report 23/12/2025 09:18

What Matters Today: Understanding the Data Centre (DC) models as NEXTDC jumps

The ASX 200 surged to a 5-week high on Monday, closing up +0.9% as the traditional lack of selling during the festive season was met with fairly aggressive buying across the miners, who spent much of the day jockeying for position on the leaderboard. Interestingly, even as gold and silver surged to new all-time highs and copper flirted with its equivalent milestone, it was the uranium names that won this particular race:

Afternoon report 22/12/2025 16:46

The Match Out: Commodities drive ASX rally, Nick Scali upgrades guidance

The ASX surged today, as a rally in commodities combined with rising expectations of further US Federal Reserve rate cuts lifted risk appetite into the Christmas break. Gold was the standout driver, with energy and uranium stocks joined the rally, and banks posting modest gains, cooling from early strength.