Click the image to be directed to the most recent Cycle Indicators, Risk Metrics, and Portfolio Positioning update.

Mega-Cap Tech and Earnings Drive October Gains Despite the US government shutdown and hawkish commentary at the October FOMC meeting, equities were largely up for the month amid a strong start to the Q3 earnings season, lower than expected inflation, optimism regarding a US-China trade deal, and additional easing in monetary policy. The rally was centered around mega-cap technology as US growth and US large-caps led gains (+3.4% and +2.4%, respectively), while US small-caps a