EM #276 - September wasn't great
Pain for all asset classes
Today’s Thoughts
September wasn’t a great month for the market, with the S&P 500 ending down -3.9%. It was the worst September since 2011, when the market dropped -7.2%.
Maybe we shouldn’t haven been surprised though. In fact, if you take average monthly returns going back to 1928, September is by far the worst month for the S&P 500 on average:
Stocks weren’t alone in the pain. Bonds, Gold, Real Estate, and Bitcoin all ended lower. There was obviously a range, with bonds down by just a tiny -0.1% and Bitcoin by a painful -7.6%.
Was September just a one off? If I had to take a guess, my gut tells me no. I would be fairly surprised if we hit the bottom of this pullback already. There are a lot of headwinds for the market and plenty of uncertainty.
But, I don’t like making broad statements because who’s to say if it’s eventually right or wrong? So, let’s make a clearer prediction that can either make me look smart or dumb at the end of the month.
Here goes: the S&P 500 will close lower on at least one trading day in October than in September. A month from now, we’ll check back on that guess. But…let’s hope for more gains right? That’s always more fun than losses.
Today’s Metrics
It was the worst September for the S&P 500 since 2011
Five major asset classes all declined during the month
Quick Links
Most Popular Posts of All Time
Enjoy the content? Want to help support Endless Metrics?
If you want to help support my crazy dream to one day write about the markets full time and produce even more endless metrics, maybe you could sign up for ongoing content (if you haven’t already) or sign up a friend. Don’t worry - you can cancel whenever you decide you’re bored or need an inbox cleanse. I don’t take it personally.
If you enjoyed this post in particular and want to help share it through your own network, you can do so with the button below!