September 13, 2023


Welcome to our September 2023 Market Update Video!

Are there any market-related questions churning through your mind? I only ask because it seems we’ve had a few shifts occur in the last year or so. Interest rates come to mind, for example. If you are lending money it is a welcome to receive real income. On the other hand, if you’re borrowing money it has become more expensive. Please don’t hesitate to reach out if something comes to mind…now on with the outlook.

Stocks lost 1.6% in the month of August, as seen in the S&P 500, which bring the year to date return to just shy of 19%.1

If one is following economic or market headlines, it feels like a battle of good versus evil in the markets right now! By that, I mean the Fed continuing to raise rates or allowing rates to ease. They have been resolute in their comments on inflation, most recently seen from the central bank’s chief Jerome Powell at a meeting in Jackson Hole, Wyoming when he stated they are firmly working towards returning inflation back to 2%.2

Interest rates have moved higher through the summer and seem to be holding at current levels. The 10-year US Treasury, for example closed August at 4.17%.3   In my opinion, this is neither good nor bad. By this I mean, anyone looking to lend money is receiving a nice rate of interest. On the other hand, someone looking to borrow money is facing a much higher rate than only a year ago.

I feel like markets are in a good place moving ahead. I would continue to advocate for a diversified mix of both U.S. and non-U.S. stocks. As usual, summer saw volume dry up in the markets as investors spend time away from the office.4 I’m excited to see how trading goes as we head into the Fall.

As we wrap up this month’s commentary, please let me know if you have any questions or comments. I look forward to talking to you soon!


Tim Truebenbach, CFP®

Senior Vice President – Financial Advisor

Disclaimers and Sources

1 Source: LPL Daily Market Update 9/1/2023

2 Source: Investor’s Business Daily, Big Picture, 8/30/2023

3 Source: CNBC, US 10 Year Treasury, 9/1/2023

4 Source: Thomson ONE, NYSE volume, 9/5/2023


The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.


Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results.


All indices are unmanaged and may not be invested into directly.


There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.


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