This September Feels Very Different

The article flags September headwinds for the S&P 500 from rising Treasury yields, debt concerns, and broader macro uncertainty, which could pressure risk assets near term. It also argues for a contrarian “buy-the-dip,” citing impending US Treasury liquidity injections and coordinated US–Japan interventions as potential stabilizers for markets. The thesis suggests upside support for equities, particularly AI-related names, though the impact is framed as contingent on policy/liquidity actions.