USD yields declined last week on fears of labor market weakening while credit and EM markets remained strong

Global equity markets rebounded last week, recovering from 3 consecutive days of declines in late September

Meanwhile, markets have a history of bouncing back from US shutdowns—will this time be any different? Each week, the Syz investment team takes you through the last seven days in seven charts.

Stocks posted solid gains, shrugging off the U.S. government shutdown that began on Thursday. US equities appeared to draw support from the September private payrolls report from payroll processing firm ADP showing jobs lost. The labor market data seemingly made it more likely that the Fed will cut rates at its October meeting. The tech-heavy Nasdaq Composite Index outperformed, and growth stocks outpaced value. The Russell 2000 Index of small-cap stocks, which tend to benefit more from lower rates, easily outperformed the S&P 500 Index. In Europe, the STOXX Europe 600 Index ended 2.87% higher, reaching record levels. Japan’s stock markets registered mixed performance over the week, with the Nikkei 225 Index gaining 0.91% and the broader TOPIX Index down 1.82%.

Flash note

Flash note

Flash note

EM Debt keeps rising while DM sovereign and corporate markets take a breather

Global equity markets rebounded last week, recovering from 3 consecutive days of declines in late September

Good macro news gone wrong, China’s rare earth monopoly, and a toy bear beats the Mag 7. Each week, the Syz investment team takes you through the last seven days in seven charts.