Market & Portfolio Update - September 2023

17 October 2023 by Lifetime in Market Update

Market & Portfolio Update - September 2023

Global share markets gave back some of their gains in September, declining 3.7% in local currency terms, but they remain up 12.1% year-to-date.

Energy companies benefitted from higher oil prices. The industry benchmark, Brent crude oil rose by 10% during the month to US$95 p/b, following the extension of production cuts by Saudi Arabia.

Key central banks around the world met in September, with most leaving their policy rates unchanged, whilst delivering commentary indicating we may see interest rates remain higher for longer, as well as leaving the door open for more hikes if required. Sticky inflation and strong US economic data, which point toward resilient economies and labour markets, are forcing central banks to be cautious.

The “higher for longer” messaging from central banks contributed to a reasonable increase in the yields on longer-dated bonds. Yields on the US 10- and 30-year bonds were up over 0.5% for the month and now sit at levels not seen since 2007.

Rising bond yields weighed on portfolio returns last month (as bond prices and yields are inversely related). However, there is a silver lining - higher yields mean reinvestment rates are now more attractive, supporting the future returns of bond investments.

preview image - Lifetime Book Club: Happy Money: The Science of Happier Spending by Elizabeth Dunn & Michael Norton

Lifetime Book Club: Happy Money: The Science of Happier Spending by Elizabeth Dunn & Michael Norton

“Money can't buy happiness – unless you know how to spend it.”

That’s the heart of Happy Money. This isn’t your usual guide to budgeting, saving, or investing. It’s a fascinating, research-driven look at how to turn spending into something that genuinely makes you feel good – not just for a moment, but in a meaningful, lasting way.

27 August 2025 by Lifetime in Lifetime Book Club
preview image - The Biggest Mistake Existing Property Investors Make

The Biggest Mistake Existing Property Investors Make

Are you asset-rich but cash-poor? This is very common for a lot of existing property investors who purchased before or during the last property boom and experienced significant gains in property values.

20 August 2025 by Ross Barnett in Property Investment