After an initial dip, stock markets rallied a bit mid-month and closed September mixed. Large company stock indices advanced while medium and small company stocks lost ground last month. International stocks rose in September as did U.S. energy and health care stocks, while bonds in general continued their down trend.
The Federal Reserve raised interest rates again in September, from 2% to 2.25%. This was anticipated and built into bond prices. As we watch the signals and indicators, the economy continues strong, pushing the end of this bull market further out. Some signs of the strong economy: the Fed is raising rates but not to fight inflation; there is no commodities bubble; GDP growth is accelerating. It may be the year 2020 before the current bull market cycle ends. We are positioned to ride out any dips in the meantime, as well as take advantage of further upside in this market.
All the months fly but some just evaporate. September evaporated for me. It seems to be a factor of much going on. The garden is the tranquil place. Removing the debris of spent blooms as well as exuberant weeds keeps the gardener in touch with the changing season. The season’s largest tomatoes still ripen on rambunctious vines. Perennials push out final flowers under October’s bright blue skies. Today offers a gift that will not come again.