26 September 2022
Ok, we are not fans of seasonal trends in the market for one simple reason: it is never that simple! Nonetheless, September, which has a history of lower returns and higher volatility, is certainly giving the seasonal supporters strong evidence this year. The S&P 500 has been as high as 4,119 and as low as 3,688 – let’s call it a 10% variance. And the month is not over. The TSX and many other markets are showing similar patterns. Last year was a great year for investors and 2022 is turning into the exact opposite, with both equity and bonds losing substantial value.