As the S&P 500 reached a record high and subsequently fell in September, mid-cap growth funds, emerging market stocks and inflation-protected bonds were the winners in the 3rd quarter. Additionally, Treasury yields and debt negotiations on Capitol Hill dented investor confidence. As Treasury yields increase, investors are going back to major tech stocks, revisiting the “stay at home trade.” The Alger Mid-Cap 40 ETF rose 17.4% for the quarter, Hubspot ($HUBS@US) rose 16.9% for the quarter and biotech upstart Repligen Corp ($RGEN@US) rose almost 44% over the same period.
