September Market Digest

The U.S. economy continued to expand, supported by relatively healthy private-sector demand. U.S. equities continued to advance in August, with the S&P 500 reaching new highs during the month. Fixed income markets were mixed in August as investors navigated persistent inflation and volatility in Treasury yields.

The U.S. economy continued to expand, supported by relatively healthy private-sector demand. Business investment remained an important source of growth, driven in part by continued spending on AI infrastructure, while household income continued to grow and the labor