ACG’s September 2022 Capital Markets Review

Equities were under continued pressure in September as investors digested continued interest rate increases and an increasingly hawkish Federal Reserve.
The S&P 500 fell -9.21% in September and was negative for the third consecutive quarter after returning – 4.88% in Q3 2022.
Every sector in the S&P 500 was negative in September, while Consumer Discretionary and Energy were the only positive performers in Q3, returning 4.36% and 2.35%, respectively.

Value stocks slightly outperformed Growth in September with the Russell 1000 Value down -8.77% and the Russell 1000 Growth falling -9.72%.
Developed International equities fell along with domestic markets in September with the MSCI EAFE Index returning -9.35%. The MSCI Emerging Markets Index was down -11.72%.
Bond prices continued to fall as yields continued to rise in the face of the Fed’s tightening cycle to combat inflation. The Bloomberg US Aggregate Index fell – 4.32% for the month and has now declined -14.61% for the year. Sources: Morningstar Direct, MSCI

Sources: Morningstar Direct, MSCI

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