We’ve entered a traditionally difficult period of the year. US equities have had terrible seasonality during the second half of September. According to Bespoke Investment Group’s data, the median return amounted to roughly -0.5% during the second half of September. The mean result is even worse. Moreover, the losses were even more significant in the past couple of decades.
All in all, an interesting result because of the positive drift in equities. The second half of September disappointed US equity investors despite their remarkable gains over the past four decades, which are included in the data.