Market update: April-June 2026

Three months can make a big difference. 

Earlier this year, markets were unsettled by conflict in the Middle East, rising oil prices and uncertainty about inflation. But by the end of June, many share markets had recovered strongly, helping smartMonday investment options deliver positive returns for the quarter. 

So what changed? 

During the June quarter, tensions in the Middle East eased as a ceasefire between the US and Iran progressed towards a preliminary peace agreement. One of the biggest outcomes was the reopening of the Strait of Hormuz, a vital shipping route for global oil supplies. 

While the situation in the region remains volatile, the risk of major supply disruptions during the quarter meant that oil prices fell sharply. That eased concerns about inflation and gave investors greater confidence, helping markets recover much of the ground lost earlier in the year.  

Global share markets led the rebound, supported by strong company results and continued investor confidence. Ongoing enthusiasm for artificial intelligence (AI) remained one of the biggest drivers of global markets. Australian shares also finished the quarter higher, although they didn’t rise as strongly as overseas markets.  

Rather than relying on a single investment or sector, diversified portfolios spread investments across different asset classes and regions. During the quarter, different investments performed differently. So, while global shares led the way, Australian shares also rose, listed property recovered strongly and bonds contributed positive returns.  

Diversification can't eliminate market ups and downs, but can help smooth the journey over the long term. 

One reason is that overseas markets, particularly in the US, have much greater exposure to technology companies leading the rapid growth of artificial intelligence (AI). Strong earnings from many of these businesses helped lift global share markets during the quarter. 

Australia’s share market has fewer large technology companies and is more heavily weighted towards banks, mining and other established industries. Different markets shine at different times, which is one of the reasons diversified portfolios invest across both Australia and overseas. 

Headlines tend to focus on uncertainty, which can feel unsettling.  

But one of the most important things to remember about investing is that markets rarely move in one direction for long. Sharp declines can be followed by surprisingly strong recoveries – just as we’ve seen this quarter. 

While no one can predict when markets will rise or fall, history shows that trying to move in and out of investments based on short-term events can mean missing some of the market's strongest recovery periods. 

While uncertainty remains, smartMonday continues to focus on a disciplined, diversified investment approach designed to support members' long-term retirement outcomes. This quarter is another reminder that short-term market movements are a normal part of investing, and staying focused on your long-term goals can help you navigate those ups and downs with confidence. 

All smartMonday investment options delivered positive returns during the June quarter as share markets rebounded. 

Growth options generally benefited most from the strong rebound in global share markets, with the High Growth option growing 7.34% over the quarter, while more conservative options continued to provide steadier returns through their exposure to defensive assets. 

smartMonday investment returns to June 2026

You can log in to your account at any time to check your investment option and see how your balance is tracking.   

If you have questions about your super or your investment options, we’d love to hear from you! 

Call or email 1300 262 241, or smartcoach@smartmonday.com.au. You can also book a time to chat.