Bank of England Governor Mark Carney’s statement that a rate increase was “getting closer” and an increasingly unfavourable geopolitical environment pushed the S&P United Kingdom index to a 2.8% loss for September.
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The S&P Europe 350 eked out a small gain for the month as market participants await further stimulus to emerge from ECB meeting later this week; an “ambitious” asset purchase program is anticipated.
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Sovereign yields are slightly up, commodities are down and volatility measures in Europe and the U.S. are up.