In precious metals, silver fell 17.4% in September, the worst performing commodity. Meanwhile, spot gold fell 4.1% to below $1900 an ounce. In line with the gold and silver price correction, the US dollar index rebounded about 1.78% in September.
However, in the first two months of September, strong demand for precious metals combined with large-scale Federal Reserve stimulus measures led to a strong rise in precious metal prices, especially silver, which, as the best performing asset class in the third quarter and so far this year, rose 27.6% from July to September. Gold prices also rose strongly by 5.9% in the third quarter.
According to Deutsche Bank data, government sovereign bonds were the best performing financial assets in September, occupying five of the highest monthly yield segments.
In terms of the stock market, most of the worlds major markets experienced a significant correction in September.
The stoxx600 bank index, the worst performing European bank equity index, fell 10.7% in September, 12.1% in the third quarter and 41.9% in the whole year.
The strong US stock market also fell in September, with the S & P 500 down 3.8% and the NASDAQ down 5.1%.
But Japans stock market was relatively stable, with the Nikkei up 0.7% in September.
It is worth mentioning that, on the whole, the most remarkable appreciation of the euro in the third quarter was the appreciation of the euro against the US dollar by 4.3%, which is the best performance of the euro since the second quarter of 2017.
Deutsche Bank added that despite the poor performance of most major asset classes in September, the third quarter was generally a good quarter as economies continued to recover from their post blockade lows, with 28 of the 38 major asset classes up.
The bank further said that from the year to date asset performance, precious metals, technology stocks and major government sovereign bonds showed a bimodal distribution, while most commodities and emerging market assets continued to suffer. Source: Wall Street news editor: Yang Qian_ NF4425
The bank further said that from the year to date asset performance, precious metals, technology stocks and major government sovereign bonds showed a bimodal distribution, while most commodities and emerging market assets continued to suffer.