Please click on the link below to view our research department's latest monthly market update

• April marked a strong relief rally following March’s energy driven market shock.
• Global equities outperformed Australian equities, led by the US and North Asia.
• Emerging markets were standout performers, driven by AI and semiconductor stocks.
• Fixed income returns remained constrained by inflation concerns.
• Infrastructure and property recovered, but higher interest rates continued to cap valuations.
• Oil prices stayed structurally elevated, sustaining inflation risks.
• Gold lagged, reflecting a return to risk on sentiment.
• Market correlations remain higher than average, highlighting ongoing fragility