Global Weekly Equities Report - October 9, 2026

Executive Summary

Reporting period: Monday 5 – Friday 9 October 2026.

The bond proxies came back, and they came back hard. Utilities rose 3.97%, the best sector of the week after being the worst of September, with Consumer Staples and Energy both at 3.60% and Real Estate at 1.96%. Information Technology fell 0.52%, the worst sector, having been the only one to rise in September. The ranking inverted almost exactly.

The cause was the rate path, not earnings. The ten-year Treasury eased 4 basis points to 5.24% after touching 5.31% on Monday, the two-year 3 basis points to 4.80% and the thirty-year 3 to 5.60%. Market-implied odds of an October increase have settled near 20%, down from roughly 64% at the end of September. The sectors punished through September by a 54 basis point parallel shift recovered as that shift partially unwound.

Breadth improved for the first time in a month. The S&P 500 rose 1.15% to a record 7,811.54 while the equal-weighted index rose 1.58% — the first week since early September in which the average stock beat the index. Small caps were the exception, falling 0.92%. The Nasdaq added 0.64% and the Dow 0.93%, with the VIX easing to 14.84.