Look Ahead, Not Around
A broader, healthier rally across global equities started to emerge over the June quarter.
The story is no longer just AI. It’s where the next wave of investment is flowing. Capital is expanding beyond semiconductors into data centres, infrastructure and electrification, creating new opportunities for earnings growth.
In our latest Quarterly Investment Report, we explore what this shift means for portfolios in the second half of 2026.
Here’s what we cover:
- AI investment is becoming a key driver of economic growth, expanding beyond technology into power, defence and manufacturing.
- The global rally is broadening, with earnings replacing enthusiasm as the key driver of returns.
- Australia’s growth outlook is softening, with higher rates and persistent inflation weighing on activity.
- Housing momentum is slowing as affordability pressures and higher borrowing costs weigh on demand.
Markets will keep looking ahead, not around. That can feel uncomfortable for investors when shocks create uncertainty, but it is often where the biggest opportunities emerge.
We hope you find the report valuable and look forward to staying connected throughout the second half of 2026.
Warm regards,
Mackay Private Wealth
General Advice Warning: Any comments in this communication do not consider your objectives, financial situation or needs. Before acting on any general advice, consider whether it is appropriate for you.