Barclays recommends equity investors reduce their risk exposure heading into fall, citing September’s negative seasonality, 2026 US midterm election uncertainty, and interest rate volatility. Since 1928, the S&P 500 has posted an average September return of -1.1%, the only month with a negative long-run average, declining -1.5% in midterm election years. OpenAI is expected to go public in September 2026 with a valuation estimated between $850 billion and $1 trillion, while Anthropic is preparing its IPO for October. Strategists advise prioritizing quality over momentum, trimming high-growth positions, and adding hedges through options or volatility strategies.
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