01/10/2026
The rate picture shifted in September. In our October Market Brief, Arta’s Investments team looks at what that means across public markets, private markets and derivatives.
The Fed raised rates for the first time in three years, and the 10-year Treasury yield moved above 5% for the first time since 2007. Yet the S&P 500 barely moved.
Underneath, breadth in public markets is the narrowest since the dot-com era. In derivatives, index volatility remains in the mid-teens while skew has rebuilt toward its July highs. In private markets, the impact of higher rates is taking longer to show up, with Q3 reporting starting to reflect that shift.
Matt Linker, Brandon Ho, Peter Harano and Yekaterina Alferova share what they’re seeing and what they’re watching next.
The common thread: the headline index is telling you less than usual. So diversification, concentration and where risk sits across a portfolio deserve closer attention.
Full piece here: https://artafinance.com/global/insights/arta-market-brief-october-2026