Stocks Flatline as Bonds Plummet and Crypto Roars Back

The month of September was marked by a lack of volatility in the stock market, while bonds suffered their worst performance in years. The S&P 500 saw a minor decline of 0.59%, with 78% of its constituents also falling in value.

Despite this, the Nasdaq rose 3.9% for the month and set a new all-time high, possibly due to the influence of artificial intelligence which has added $1.7 trillion in market value since August's end.

The bond market was where the real losses occurred, with the yield on the US 10-year Treasury note reaching its highest level since 2002 at 54 basis points above the previous month. The yield on the 30-year Treasury bond also touched a 22-year high of 5.612%.

Cryptocurrencies, on the other hand, had their best performance in eight months, rising 12.55%. The total crypto market cap returned to $3 trillion for the first time since March. BTC reached $87,000 and ETH broke through $2,800, marking its highest monthly close in nine months.