October was a spooky month for the markets and exchange traded funds (ETFs), and we saw things that haven’t been seen in decades.
The two strongest areas, and one of the few to end the month in positive territory are the Japanese yen and the U.S. dollar. CurrencyShares Japanese Yen (FXY) rose 7.3% this month, while PowerShares DB U.S. Dollar Index Bullish (UUP) finished up 7.8%.
Global regions were especially battered in October. Europe lost about 22%, Asia fell about 21% and Latin America tumbled about 30%.
Read the disclosure, as Tom Lydon is a board member of Rydex Funds.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.