Internationally, weakness was broader, with $ACWX, $EFA, and $EEM all lower, reinforcing the relative strength of domestic defensives over global risk assets.

Emerging markets also stood out, with $EEM up 1.6% and Brazil exceptionally strong via $EWZ at 12.5%. The tone was not universally cyclical, though; energy and metals participated, but financials remained mixed and real estate stayed weak, with $VNQ and $IYR both lower.

Market Observation for Oct 5:
Emerging markets outperformed developed ex-U.S. markets, with $EEM up 1.6% and $VWO up 1.8%, while Europe ETFs such as $EZU fell 0.4%.

Vanmiddag vanaf de Malebrug een rondje door de #Melksteeg gelopen. Best wel mooie nieuwe natuur bij #Eem en #Amersfoort

Market Observation for Sep 14:
International equities were weaker than U.S. benchmarks, especially emerging markets, with $EEM down 2.7% and $IEMG down 2.6%.

Outside the U.S., risk appetite looked healthier, with emerging markets and Asia leading: $EEM rose 1.82%, $EMXC 1.88%, $EWT 1.86%, and $EWY 4.60%.

Market Observation for Sep 4:
International equities outperformed U.S. benchmarks, especially emerging markets and Asia: $EEM +1.82%, $EMXC +1.88%, $EWT +1.86%, and $EWY +4.60%.

Outside the U.S., risk appetite looked healthier, with emerging markets and Asia leading: $EEM rose 1.82%, $EMXC 1.88%, $EWT 1.86%, and $EWY 4.60%.

Market Observation for Sep 4:
International equities outperformed U.S. benchmarks, especially emerging markets and Asia: $EEM +1.82%, $EMXC +1.88%, $EWT +1.86%, and $EWY +4.60%.