
Review of asset classes performance in September - Mostly ETFs were in the red, with the top loser being the ETF tracking Gold (GLDM), which tumbled 6.7%. The ETF tracking Bitcoin (BITO) was the sole gainer, which rose 5.4%. For their current trends, most asset classes namely the S&P 500, Oil, Bitcoin, and Singapore Equities are in a range consolidation. Conversely, US Treasury Bonds, Gold, and the Hang Seng Index are in a downtrend. Heading into October, we expect the ETFs tracking the S&P 500, US Treasury Bonds, Oil, and Bitcoin to consolidate sideways. Conversely, the ETFs tracking Gold, Singapore Equities, and the Hang Seng Index are likely to extend their weakness.