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Market Commentary - August Glenmore Asset Management October 2026 (2-minute read) Despite an extremely volatile reporting season, global equity markets pushed higher during the month. In the US, the S&P 500 and NASDAQ rose +1.9% and +1.6%, respectively, whilst in the UK, the FTSE edged +0.6% higher. Domestically, the ASX All-Ordinaries Accumulation index outperformed its international peers, increasing +3.2%. This was driven by the Materials sector (led by the gold sector) and Consumer Discretionary, supported by expectations of further rate cuts. The expectation of further cuts by the RBA provided a material boost to small caps, with the ASX Small Ordinaries index rising +8.2% in the month. In comparison, the ASX 100 rose +2.1%, weighed down by sharp falls in large-cap names such as James Hardie (-25%), CSL (-21%), Dominoes (-18%), Reece (-18%), Wisetech Global (-15%) and Woolworths (-9%). In bond markets, the US 10-year bond yield declined -15 basis points (bp) to 4.23%, whilst its Australian counterpart rose marginally by +2bp to close at 4.28%. The Australian dollar was stronger in June, closing at US$0.654, rising 1.2 cents. Funds operated by this manager: |
