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Market Commentary - April Glenmore Asset Management May 2026 (2-minute read) The US market appeared to shrug off the ongoing war in Iran, reaching new highs during April. This was primarily driven by the tech sector, resulting in the NASDAQ rising +15.3%, representing its strongest monthly gain since April 2020. Whilst not being as tech-heavy, the S&P 500 was boosted by similar factors, rising +10.4%. US markets easily outpaced their international peers, with the Euro Stoxx 50 and FTSE 100 rising +5.6% and +2.0% during the month, respectively. Similarly, domestic markets lagged the US, with the ASX All Ordinaries Accumulation Index rising +2.4%. The gains were led by the Tech (+12.3%) and Real Estate (+8.0%) sectors, whilst Healthcare was the key detractor (-8.4%), dragged down by Cochlear (COH), which fell -44% following an earnings downgrade. In bond markets, the US 10-year bond yield rose +5 basis points (bp) to 4.37%, whilst its Australian counterpart rose +9bp to 5.1%. The Australian dollar rebounded during the month, rising +4.3% to US$0.72, implying an increase of 3.0 cents. Funds operated by this manager: |
