Important information
Publisher and editorial responsibility
Strategos is published by DAPEMI SRL, which holds editorial responsibility for its content. Every edition is reviewed and approved before publication. This edition was completed on 7 October 2026 and reflects views as at 30 September 2026, which may change without notice.
Not advice
This document is general information and commentary. It does not take into account any reader's objectives, financial situation or needs, and it does not constitute investment, legal or tax advice, a personal recommendation, or an offer or solicitation to buy or sell any financial instrument. Readers should seek their own professional advice before acting. Past market movements and historical episodes are not a guide to future outcomes.
Conflicts of interest
DAPEMI SRL and the authors hold no position in the instruments discussed in this edition. No issuer or other third party has paid for, commissioned or reviewed this publication.
Sources
Facts are drawn from the sources named in the text and from official publications. The information is believed to be reliable, but its accuracy and completeness are not guaranteed. Market data: US Treasury yields, the US real yield and breakeven inflation: Board of Governors of the Federal Reserve System (H.15), via FRED, Federal Reserve Bank of St. Louis. Euro-area yields and the EUR/USD reference rate: ECB statistics. US high-yield and investment-grade spreads: ICE Data Indices, LLC (ICE BofA indices), via FRED. S&P 500: S&P Dow Jones Indices. Nasdaq-100: Nasdaq, Inc. EURO STOXX 50: STOXX Ltd. FTSE 100: FTSE Russell. Hang Seng Index: Hang Seng Indexes Company. Brent: ICE Futures Europe. WTI, gold, silver and copper: CME Group (NYMEX, COMEX). Wheat: CME Group (CBOT). US Dollar Index: ICE Futures U.S. GBP/USD: market rate. Index and futures values were retrieved via Yahoo Finance; they are closing prices or end-of-day values as at 30 September 2026, or 29 September 2026 where the market table shows that date. Index names and data are the property of their respective owners, who do not sponsor, endorse or review this publication; the data are reproduced for information and commentary only and may not be extracted or redistributed.
Liability and use
To the extent permitted by law, DAPEMI SRL accepts no liability for any loss arising from the use of this document. It may be shared in full with attribution to Strategos. It may not be altered or used commercially without prior permission.