As at the 30 June 2022
Observations from June.....
Ending the year on a very disappointing note, Australian stocks as measured by the ASX 200 Accum. fell -8.8% in June. This was a fall broadly in line with the S&P 500 down -8.4% and the NASDAQ falling a further -8.7% for a total 12-month decline of -24%.
Rising bond yields was the dominant theme exerting downward pressure on equity valuations - consumer staples the only sector on the local bourse to finish the month higher.
Intensifying fears around recession through June became just too much for commodities and materials stocks that fell for the month. Most commodity producers gave up all of their hard-fought gains since January.
To summarize sector performance for the financial year, sectors including Utilities, Energy and Transport faired best, while consumer facing Cyclicals, Autos and Software faired the worst.
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