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September market update – a challenging month for global banks

Head of Multi-Asset Funds Ben Seager-Scott and Senior Research Analyst Louie French give their commentary on what happened in the markets over the month of September 2020
Published on 19 October 2020

After a sizzling summer, global equity market returns were much cooler in September, with some investors taking profits on fears of a second wave of Covid-19 cases and market valuation concerns.  

In this edition

  • Against this backdrop, market returns were weaker across most regions, with the exception of Japanese equities which were marginally positive over the month as Yoshihide Suga became the new Prime Minister
  • After outperforming for most of the year, there was a notable pullback in US equity markets in September. As the US dollar strengthened, political tensions increased ahead of November’s presidential election and the technology sector sold off
  • The historically more defensive asset classes, such as government bonds, outperformed in the risk-off market environment

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