The past three months have been a tumultuous one for investors, as volatility returns to the U.S. stock market, with the CBOE Volatility Index hitting a new intraday high on August 5th, its highest level since March 2020. It was a period.
“The S&P 500 is currently posting its strongest year-to-date performance so far in the 21st century, already up more than 20% at the end of the third quarter.”
“The usual September seasonal fluctuations did not apply this time. In fact, the S&P 500 Index posted its first September gain since 2019 (2.1%), and the Bloomberg Global Bond Total rose in September for the first time since 2016. An increase rate of 1.7% was recorded.
“Thanks to the stimulus announcement, Chinese stocks have rocketed up the leaderboard. The Shanghai Composite is now up 16.7% year-to-date in USD total return terms and 18.8% in September alone. There is.”
“Tech stocks lost some of their luster, with Q3 marking the first quarter since Q4 2022 that the S&P 500 Index (5.9%) outperformed the Magnificent 7 Index (5.4%). There was a significant rotation in the sector, with utilities (19.4%) up ”, the best performing sector in the S&P 500. ”
“The Japanese yen (12.0%) had its strongest quarter against the US dollar since Q4 2008 at the height of the global financial crisis, as the Bank of Japan hiked interest rates and the Federal Reserve began cutting rates earlier than expected. .”
“U.S. Treasuries rose for the fifth consecutive month in September for the first time since 2010.”
