- The market segments that benefited from the stay-at-home economy dominated in the first half of August, but that backdrop began to shift mid-month.
- Oil dropped by 15% from its yearly high, but subsequently rebounded.
- This reversal seemed to mark the turning of the tide where cyclical stocks began to reassert their leadership and defensive names took a back seat.
- The Federal Reserve finally indicated it would begin to start tapering its asset purchases, although the timeline remains vague, and markets weren’t surprised.
- We continue to watch Florida as a key barometer for the Delta variant and its potential knock-on effects for the wider economy.
This material is provided for informational purposes only and should not be construed as investment advice.
The views and opinions expressed are as of September 2021 and may change based on market and other conditions.
All investing involves risk, including the risk of loss. Investment risk exists with equity, fixed income, and alternative investments. There is no assurance that any investment will meet its performance objectives or that losses will be avoided. Actual results may vary.
Commodity-related investments, including derivatives, may be affected by a number of factors including commodity prices, world events, import controls, and economic conditions and therefore may involve substantial risk of loss.