In September, global equity markets had mixed performance. European markets faced slowing GDP, UK equities rose on strong economic data and a pause in interest rate hikes by the Bank of England. Asian equity markets had an overall decline with losses in several countries, including China. India saw gains driven by low inflation and increased exports. Emerging markets equities outperformed global equities but ended down overall. The expectation of ‘higher for longer’ interest rates dampened sentiment in the US and Asia and weighed on bonds.
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