September PMC Monthly Market Recap
Last month did not follow the historical tendency for September to be a rough month for equities. Instead, gains flowed across everystock market index tracked in this recap.
- September was another solid month for global financial markets. It capped a strong third quarter for investors.
- September has historically been a difficult month for US equities, but this September provided a refreshing break from the past.
- Fixed income returns were also strong in the month as the Federal Reserve delivered a September interest rate cut.
- We are concerned by modest labor market weakening, but US GDP growth and consumer spending remain resilient.
- What we’re watching: Can US interest rates decline without lifting inflation higher next year?