September Monthly Commentary 2026

In this Waverly Lake Oswego September Market Commentary, Nik Schuurmans, CFA®, Partner and Wealth Advisor at Waverly Advisors, unpacks a wild month across markets — rising bond yields, sticky inflation, elevated energy prices, Middle East uncertainty, and the AI question that continues to drive markets beneath the surface noise. Nik cuts through the headlines to share the data and context that actually matter for long-term investors. Nik's consistent theme: don't get distracted by what you can't control. Find the signal, ignore the noise, and build a portfolio positioned for the long-term realities that aren't going away. To reach the Lake Oswego office: lakeoswego@waverly-advisors.com To Reach Nik Schuurmans, CFA®, Partner, Wealth Advisor Email: nik.schuurmans@waverly-advisors.com Phone: 503-744-4380 Video recorded on September 29, 2026 Read important disclosures here: https://waverly-advisors.com/otherimp... Timestamps: • 00:00 – Introduction: September themes — bond yields, energy, Middle East, and AI • 00:37 – Information filtering: finding signal in the noise • 01:37 – Asset class performance recap: "Wild September" • 01:57 – Gold down ~6%: yield sensitivity explained • 02:30 – Small caps, foreign equities, and Treasury ETF performance • 03:25 – S&P 500 essentially flat; Nasdaq holding surprisingly strong • 04:08 – Rate expectations vs. reality: the chart explaining bond market volatility • 04:36 – What the Fed controls vs. what market forces control • 05:57 – Expected cuts vs. priced-in hikes — how markets got caught offsides • 06:25 – New Fed chair communication style adding to bond volatility • 06:39 – AI capex in historical context: 4% of GDP, 3x the internet buildout of 2000 • 08:01 – OpenAI, Anthropic, and SpaceX: worth more than 45 years of tech IPOs • 08:46 – Financial media vs. professional wrestling: the same business model • 09:40 – Time magazine's "end of the world" covers — a pattern in financial fear-selling • 11:00 – Long-term bond yield context: the 5.8% historical average since 1965 • 12:33 – Why current yields are still below long-term averages • 13:09 – US government debt hits $40 trillion — and why the rate of increase matters • 13:32 – The other side of the balance sheet: household assets have exploded higher • 14:35 – Portfolio positioning: gold, Bitcoin, and what's "likely not to change" • 15:01 – Closing thoughts and how to reach the team About Waverly Advisors, LLC Waverly Advisors, LLC is a nationwide wealth management firm dedicated to serving high-net-worth individuals, families, business owners, executives, and institutions. We take a holistic approach to wealth management, addressing investments, tax strategy, estate planning, charitable trust services, corporate retirement plans, and more. LinkedIn:   / waverlyadvisors-llc   Facebook:   / waverlyadvisorsllc   Instagram:   / waverlyadvisors   Music Credit: Song: Olif — Be Yourself Music provided by Vlog No Copyright Music. Video Link: https://bit.ly/3u2ON9O