michael eraklis kashioulis
michael eraklis kashioulis
United Kingdom
2mo
It’s been a tougher run for markets through March and our portfolio, with the ongoing Israel conflict pushing oil prices higher and weighing on sentiment. We’ve seen this feed through into the major indices with the S&P 500 and Nasdaq both pulling back, and the FTSE 100 also giving up ground - the S&P 500 looks to end down for the month -5%. Broader indices, particularly in the US and UK, have felt the pressure as higher oil feeds into inflation concerns and squeezes margins across sectors like travel, retail and manufacturing. We’ve seen a big impact on the portfolio too in March, especially across consumer and tech which we have relatively strong exposure to making it our worst month ever I believe (though after today when the data updates we should shave 3% off). Encouragingly, in the past few days we’ve started to see a broader lift in various stocks we hold as sentiment improves around whats next for key oil channel and the war in general. The S&P 500 and Nasdaq sa their best single day since May. For now, we remain focused on the bigger picture, staying invested, avoiding reactive decisions, and trusting the long-term strategy that’s guided us through both strong periods and more challenging ones like this. In terms of how to large economies are seeing the action through interest rates, in the US we saw the Fed hold steady in March, sticking to a cautious “wait and see” stance. With inflation still in focus and geopolitical pressures adding complexity there is a lot more people expecting a slower path to rate cuts that was anticipated at coming into 2026. The Bank of England also followed in the same steps and held rates, reinforcing that while inflation is easing, it’s not falling quickly enough to justify cuts yet.
Not investment advice. The author may have financial interests in the mentioned instruments.
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