Twist and Shout! | Steve Henderly, CFA
Printer Friendly PDF: September 2026 Commentary
The final song of The Beatles debut album, Twist & Shout, was recorded on a single take at the end of a very long day. John Lennon was fighting a bad cold and his voice was nearly shot. Despite these challenges, in that single take, John delivered one of the finest vocal recording of all-time! The song is upbeat, powerful, and full of raw energy.
Financial markets continued to provide reason for investors to both twist and shout in August. In a somewhat surprising twist, The U.S. Treasury announced it would expand purchases of longer dated Treasury securities, a move reminiscent of the Federal Reserve’s “Operation Twist” back in 2011. Bond yields rose and prices declined. On the other hand, stocks continued to move higher and the S&P 500 established several new record highs, causing some investors to shout with joy. With that as our backdrop, here are the things we think mattered most in August: