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3rd Quarter 2021 Market Review

The S&P 500 Index closed at 4,307.54 on 9/30/21, 5.06% below its all-time closing high of 4,536.95 on 9/2/21, according to Bloomberg. A Bloomberg survey of 21 equity strategists found that their average 2021 year-end price target for the S&P 500 Index was 4,466. The highest and lowest estimates were 4,825 (up from 4,700) and 3,800 (unchanged), respectively. The index posted a total return of -4.65% in September. Only one of the 11 major

sectors that comprise the index was up on a total return basis. The top-performer was Energy, up 9.37%, while the worst showing came from Materials, down 7.21%. Looking ahead, the fourth quarter of the calendar year has been the best for stocks over the past two decades, with the S&P 500 Index posting an average increase of 4.1%, according to Bloomberg. The yield on the benchmark 10-year Treasury note (T-note) closed trading on 9/30/21 at 1.49%, according to Bloomberg. The 1.49% yield stood 55 bps below its 2.04% average for the 10-year period ended 9/30/21. A survey by Natixis Investment Managers found that nearly 60% of Americans have accepted the likelihood that they will have to put off retirement and work longer. Thirty-six percent of Americans currently believe they will never have enough money to retire. Forty-one percent of those polled said their ability to be financially secure in retirement is "going to take a miracle." That's where we come in. If you have retirement concerns please reach out and talk with us.

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