Summary

In this market update, Emmanuel takes clients through a comprehensive review of current economic conditions and what they mean for your portfolio. With Australian inflation remaining stubbornly high, interest rates on the rise, and global markets showing signs of strain, the message is clear: caution and discipline are the order of the day. Emmanuel breaks down the valuation case for Australian and US share markets, explains why the banking sector looks stretched, and unpacks the growing threat of AI disruption to software companies — the so-called "SaaSpocalypse." He also covers the outlook for gold, the risks lurking inside private credit vehicles, and why getting your point of entry right matters more than ever. Whether you're wondering about cash deployment, dollar cost averaging, or what to make of the magnificent seven, this update gives you the context you need to understand the thinking behind your investment strategy.