Market Update September 2023Submitted by Corrigan Financial, Inc on October 4th, 2023
Global stocks closed down just over 4% in September, while global bonds were off nearly 3% for the month. After delivering strong returns through July, stocks have been on the decline for the past two months. Still, global stocks remain up nearly 10% year-to-date and 14% over the past 12 months. These strong returns, initially driven by the excitement over artificial intelligence, have more recently been fueled by the hopes that inflation would subside without recession … an outcome otherwise known as a soft landing.