September saw extreme volatility due to confrontational life circumstances. The Biggest winners were in the red tape, and confusion markets thanks to being born on the wrong side of a line draw by some guy a long time ago. Drawing related assets also benefited greatly as a security refuge from the unstable stress and depression markets.
The month’s biggest loser occurred in the friendship, and comfort markets. The friendship markets suffered from the volatility in the stress markets with the comfort markets falling sharply upon my return to Paris from NY.
Medium and short-term treasuries saw a year low with the long-term outlook for the Z-Bond still strong to spite external pressures. The money market funds however showed good resistance to the month’s volatility.