SHARESIES · MARKET UPDATE · Week of 14 September 2026
Jacki Neumann, Head of Capital Markets

↑ WHAT'S UP — Oil was the big climber, with Brent crude rising as high as US$108 a barrel on Thursday — its highest since May — before settling around US$105 after fresh US–Iran strikes. Oracle was a bright spot, jumping 7% after hours on strong results as revenue rose 30% and cloud infrastructure revenue surged over 120%.

↓ WHAT'S DOWN — Equities fell broadly, with the ASX 200 down around 3% — dragged by an 8.6% slide in tech and a 3.9% fall in materials — while the NZX 50 lost 2.8% and US indices slipped, the S&P 500 off 0.8% and the Nasdaq 0.7%. Sentiment soured at home too, with consumer confidence falling 5.2% and NAB's business conditions index turning negative for the first time in six years.

! BIGGEST SURPRISES — The bond sell-off deepened, even as the US Treasury tripled its long-dated buyback operation to US$6 billion. The 10-year yield pushed toward 5%, its highest since mid-2007. In-line August CPI of 3.4% did little to help, lifting the odds of a September Fed hike to around 85%. Meanwhile, Australian 10-year yields climbed to 5.37%, their highest since 2011.

◎ WHAT TO WATCH — It's a week packed with central bank decisions: the Fed on Wednesday (now favouring a hike), the Bank of England on Thursday (expected to hold), and the Bank of Japan on Friday (tipped to hike). RBA Governor Bullock fronts a parliamentary committee on Friday, and New Zealand's Q2 GDP lands Thursday.

◈ BIGGER PICTURE — Markets are still focused on the global repricing of interest rate risk, with the return of oil prices stoking inflation fears and driving bond yields higher. Central banks are leaning hawkish — the Fed, the RBA, and even the Bank of Japan — putting pressure on borrowers. With three hikes already hitting Australians this year, there’s a growing gap between a slowing real economy and still-rising rates.

Disclaimer:

Sharesies Market Movements is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand.

This video is general market commentary and educational in nature. It is not financial advice and does not take into account your personal objectives, financial situation or needs. Information is current at the time of recording and may be subject to change. We do not provide recommendations and nothing in this video should be taken as a recommendation to buy or sell any financial product.

Investing involves risk. You might lose the money you start with. Past performance is not indicative of future performance.

If you require personal financial advice, you should consider speaking with a qualified financial adviser. Our disclosure documents and terms and conditions, including a Target Market Determination and IDPS Guide for Sharesies Australian customers, are available on our relevant Australian or NZ website.

 

SHARESIES &middot; MARKET UPDATE &middot; Week of 14 September 2026 Jacki Neumann, Head of Capital Markets
&uarr; WHAT'S UP &mdash; Oil was the big climber, with Brent crude rising as high as US$108 a barrel on Thursday &mdash; its highest since May &mdash; before settling around US$105 after fresh US&ndash;Iran strikes. Oracle was a bright spot, jumping 7% after hours on strong results as revenue rose 30% and cloud infrastructure revenue surged over 120%.
&darr; WHAT'S DOWN &mdash; Equities fell broadly, with the ASX 200 down around 3% &mdash; dragged by an 8.6% slide in tech and a 3.9% fall in materials &mdash; while the NZX 50 lost 2.8% and US indices slipped, the S&amp;P 500 off 0.8% and the Nasdaq 0.7%. Sentiment soured at home too, with consumer confidence falling 5.2% and NAB's business conditions index turning negative for the first time in six years.
! BIGGEST SURPRISES &mdash; The bond sell-off deepened, even as the US Treasury tripled its long-dated buyback operation to US$6 billion. The 10-year yield pushed toward 5%, its highest since mid-2007. In-line August CPI of 3.4% did little to help, lifting the odds of a September Fed hike to around 85%. Meanwhile, Australian 10-year yields climbed to 5.37%, their highest since 2011.
◎ WHAT TO WATCH &mdash; It's a week packed with central bank decisions: the Fed on Wednesday (now favouring a hike), the Bank of England on Thursday (expected to hold), and the Bank of Japan on Friday (tipped to hike). RBA Governor Bullock fronts a parliamentary committee on Friday, and New Zealand's Q2 GDP lands Thursday.
◈ BIGGER PICTURE &mdash; Markets are still focused on the global repricing of interest rate risk, with the return of oil prices stoking inflation fears and driving bond yields higher. Central banks are leaning hawkish &mdash; the Fed, the RBA, and even the Bank of Japan &mdash; putting pressure on borrowers. With three hikes already hitting Australians this year, there&rsquo;s a growing gap between a slowing real economy and still-rising rates.
Disclaimer:
Sharesies Market Movements is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand.
This video is general market commentary and educational in nature. It is not financial advice and does not take into account your personal objectives, financial situation or needs. Information is current at the time of recording and may be subject to change. We do not provide recommendations and nothing in this video should be taken as a recommendation to buy or sell any financial product.
Investing involves risk. You might lose the money you start with. Past performance is not indicative of future performance.
If you require personal financial advice, you should consider speaking with a qualified financial adviser. Our disclosure documents and terms and conditions, including a Target Market Determination and IDPS Guide for Sharesies Australian customers, are available on our relevant&nbsp;<a href="http://sharesies.com.au">Australian</a> or <a href="https://www.sharesies.nz/legal-documents">NZ</a> website.
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A conversation with experts, CEOs, and you. We talk to company leaders and industry experts every week. Listen or watch over lunch or whenever for what’s happening in the economy, the markets, and the companies you invest in.

Investing involves risk. This channel is brought to you by Sharesies Limited (NZ) in New Zealand. Information provided is general advice only and current at the time and does not take into account your objectives, financial situation and needs. We do not provide recommendations and you should always read the product disclosure documents available from the product issuer before making a financial decision. Our disclosure documents, can be found on our website.

If you require financial advice, you should seek advice from a qualified financial advisor. The views expressed by individuals are their own and Sharesies does not endorse any of the guests or the views they hold.

A conversation with experts, CEOs, and you. We talk to company leaders and industry experts every week. Listen or watch over lunch or whenever for what&rsquo;s happening in the economy, the markets, and the companies you invest in.
Investing involves risk. This channel is brought to you by Sharesies Limited (NZ) in New Zealand. Information provided is general advice only and current at the time and does not take into account your objectives, financial situation and needs. We do not provide recommendations and you should always read the product disclosure documents available from the product issuer before making a financial decision. Our disclosure documents, can be found on our website.
If you require financial advice, you should seek advice from a qualified financial advisor. The views expressed by individuals are their own and Sharesies does not endorse any of the guests or the views they hold.

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Oil tops US$108 as bond yields keep rising | Market movements

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