Stocks defy gravity despite volatile markets, says Bank of America

saw a drop of as much as 8% from its peak in early August but managed to rally by the end of the month, delivering a total return of 2.4%, edging closer to a record high.

All major asset classes posted gains: long-term Treasuries rose 2.0%, investment-grade corporate bonds increased 1.5%, and cash returned 0.5%. SPW, the equal-weighted S&P 500, matched the performance of the S&P 500 in August, but reached an all-time high, signaling a broader equity recovery compared to prior years. SPW has now risen 7.0% over two months, compared to the S&P 500’s 3.7%, marking the largest two-month lead for SPW since March 2021.Defensive sectors led amid concerns about an economic slowdown, with Staples , Health Care , and Utilities showing strong gains.

High-quality stocks outperformed low-quality stocks by 1.9 percentage points , marking the third consecutive month of outperformance. However, year-to-date, low-quality stocks remain well ahead.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

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