Equity markets were broadly strong in October. The US led the way, where value and growth firms produced gains well beyond recouping September’s loss. While inflation and valuations remain a concern, strong earnings growth combined with the widely held belief that equities may be favorable during the current inflationary period was supportive. Commodities and real assets continued their march higher, with even gold finding gains. Investors await clarity from DC but found their own reasons to reignite the rebound.