2026 Q3 Review and Outlook – When average isn’t good enough

After a huge second quarter, the market moderated its pace as stocks (as measured by the S&P 500 SPDR ETF – SPY) increased “only” 2.4% in 3Q26. The U.S. bond market (as measured by the US Aggregate Bond ETF – AGG) declined 3.5% on the back of sharp increases in interest rates (more on that…