October is here as we say goodbye to summer and hello fall.
Volatile energy prices and soaring bond yields took their toll on markets in September, giving us the 3rd negative month this year for stocks.
March, July, and September have been negative months for stocks this year, which isn’t an unusual thing. However, those months happen to be the only negative months for bonds this year as well. So much for owning bonds for diversification lately.
Unsurprisingly, the global sell-off in the bond markets may be going a little too far as there’s been more talk of yields easing a bit from their 20+ year high. As such, our tactical model recommended moving some money from cash to bonds this month in anticipation of better days ahead for bonds going into year-end.
Have a great weekend.
Jack C. Harmon II, CFP®, CIMA
Principal, Harmon Financial Advisors
Registered Principal, Raymond James Financial Services
Harmon Financial Advisors, Inc. is an independent, fee-based financial planning firm and an independent Registered Investment Advisor. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. and Harmon Financial Advisors, Inc. Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC. Harmon Financial Advisors, Inc. is not a registered broker/dealer and is independent of Raymond James Financial Services, Inc.
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