End of month

Each end of month we provide a performance snapshot across major macro markets. Note, we don’t tend to provide detailed analysis, that will have been done in all the notes prior. These are mainly high level performance outcomes, only.

Risky assets fell away, over August, as Powell’s Jackson Hole commentary reminded the market to internalise tighter policy, and that the interpretation of the “dovish pivot” back in July was a mistake.

Commodities in general had a good month, although note the levels are well below prior peaks, thanks to weakness in China’s property markets, and the impacts on global demand from tighter mon pol.

By equity market region, the emerging markets, including China, performed relatively well. European stocks fell, thanks to the energy crisis, and growth heavy benchmarks, like the Nasdaq, also declined, as long duration high valuation plays.

Important Information: This document has been prepared by Aequitas Investment Partners ABN 92 644 165 266 (“Aequitas”, “our”, “we”), a Corporate Authorised Representative (no. 1284389) of C2 Financial Services, (Australian Financial Services Licensee no. 502171), and is for distribution within Australia to wholesale clients and financial advisers only.

This document is based on information available at the time of publishing, information which we believe is correct and any opinions, conclusions or forecasts are reasonably held or made as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. To the extent permitted by law, neither Aequitas nor any of its affiliates accept liability to any person for loss or damage arising from the use of the information herein.

Please note that past performance is not a reliable indicator of future performance.

General Advice Warning: This document has been prepared without taking into account your objectives, financial situation or needs, and therefore you should consider its appropriateness, having regard to your objectives, financial situation and needs. Before making any decision about whether to acquire a financial product, you should obtain and read the relevant Product Disclosure Statement (PDS) or Investor Directed Portfolio Service Guide (IDPS Guide) and consider talking to a financial adviser.

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