October – 2018 Newsletter
September may have marked the start of fall, but for the financial markets it was a month in which everything seemed to rise. On September 20th, the Dow Jones Industrial Average finally managed to surpass the peak it hit in January and nudged all the way to a new record of 26,743 one day later before leveling off again. On September 18th, the yield on the 10-year Treasury rate surpassed 3 percent for the first time since May, making it to 3.10 percent before dropping slightly again.* Finally, on September 26th, the Federal Reserve raised short-term interest rates for the third time this year, to a range of 2-to-2.25 percent. It also reaffirmed its plan for one more rate hike in December, and as many as three more in 2019.**
