Oct 8, 2025
News
Monthly Recap: September 2025
The NDT US-Equities Momentum strategy advanced +4.6%, slightly ahead of its benchmark (which returned +4.4%). The NDT Europe-Equities Quality Momentum strategy gained +1.6%, outperforming the STOXX Europe 600 TR (+1.4%) by +0.2%. The strategy is now open to investors via our newly launched UBS AMC. Our global multi-asset model also benefited from broad risk appetite and stabilizing yields. The NDT Global Multi Asset Momentum returned +2.8%, beating its benchmark by +0.1%.
Let's dive into what happened this month:
Market Commentary
US Equities: Posted their fifth consecutive monthly gain, with the S&P 500 up roughly +3.5%.
US Federal Reserve: The Fed cut rates by 25bps to 4.00-4.25%, citing a “balanced-risk” outlook amid softening labor data. Markets now price in one further cut before year-end.
US Economy: GDP for Q2 was revised up to 3.8% annualized, while early Q3 readings showed modest but positive growth. Labor data weakened in terms of job gains and earlier payrolls were revised down.
Eurozone: The ECB kept rates on hold at 2.0%. The composite PMI rose to 51.2, marking nine months of expansion, led by services and improving German activity.
UK: Growth softened, but the Bank of England stayed on hold (4.0%) as inflation stayed at 3.8%.
US Earnings: Corporate results remained resilient; Q3 EPS is projected to rise about 7-8% YoY, led by Technology and Financials.
Rates & Dollar: Treasury yields oscillated, with 10-years near 4.1%. The dollar stabilized after its sharp first-half decline.
Alternatives/Commodities: Gold and silver posted another strong quarter (up ~11% and 17% in September), their best stretch since 2011 and 2020 respectively, while while crude softened amid geopolitical cross-currents.The S&P 500 rose +1.9% in August, with multiple fresh highs as breadth improved and equal-weight outpaced cap-weight.
Our Top 3 Performers in the US
Below are the three stocks from our NDT US-Equities Momentum Strategy that posted the strongest gains in September:
Palantir Technologies Inc (+16.4%)
Momentum built around AI adoption and Palantir’s product/customer pipeline. The stock’s September pop followed very strong August results that investors were still digesting, plus Palantir’s AIPCon 8 event early in the month showcasing new customers and use cases, both reinforcing the “AI infrastructure” narrative that kept the group bid.NRG Energy Inc (+13.8%)
NRG was benefiting from rising electricity demand, particularly tied to stress on the US power grid and increased consumption from data centers and AI workloads. On September 17, NRG raised its full-year guidance.Howmet Aerospace Inc (+12.7%)
Several supportive catalysts: S&P upgraded Howmet’s credit rating to BBB+ on Sept. 8, improving funding optics; management highlighted order strength and spares demand. All of this sits on top of a firm aerospace cycle as Airbus/Boeing work to lift output, which benefits Howmet’s engine and fastener franchises.
Our Top 3 Performers in Europe
Here are the three stocks from our NDT Europe-Equities Quality Momentum Strategy that posted the strongest returns in September:
Thyssenkrupp AG (+26.4%)
The industrial powerhouse rallied after its steel workforce approved a sweeping restructuring plan aimed at cutting costs >€100 million annually. Plus, a nonbinding bid from India’s Jindal Steel for its steel unit surfaced in September, reinforcing hopes of a value-unlocking sale.Rheinmetall AG (+13.5%)
The Europe defense and automotive technology group gained momentum on news it would acquire Lürssen’s naval shipbuilding arm (NVL), letting it expand from land systems into naval defense. The deal bolsters its position ahead of rising European defense budgets and maritime demand.Siemens Energy AG (+10.9%)
The global energy technology leader uptick was supported by a €220 million investment to expand its transformer plant in Nuremberg (capacity +50%, 350 new jobs) and strong underlying demand for grid infrastructure and power delivery solutions.
Why Now?
Enhance your diversification: Market indices are increasingly driven by a handful of dominant stocks. NDT portfolio components can broaden your exposure and provide access to overlooked opportunities.
In these uncertain times, add a rule-based component to your portfolio:Our data-driven strategies combine proven trading logic with practical implementation to bring discipline and robustness to your investment decisions.
Last Month's Strategy Returns
NDT US-Equities Momentum:
A satellite solution to complement existing portfolios with a concentrated selection of US large-cap stocks with strong momentum.
NDT Europe-Equities Quality Momentum:
Complement your portfolio with a selection of high-momentum and quality stocks out of the STOXX Europe 600.
NDT Global Multi Asset Momentum:
A systematic strategy designed to complement discretionary portfolios for long-term participation in global growth.
For marketing purposes only. Advertising according to Art. 68 FinSA. All rights reserved.
Photo by Oskar Gross: https://www.pexels.com/photo/picturesque-view-of-the-matterhorn-in-zermatt-34192160/
The NDT US-Equities Momentum strategy advanced +4.6%, slightly ahead of its benchmark (which returned +4.4%). The NDT Europe-Equities Quality Momentum strategy gained +1.6%, outperforming the STOXX Europe 600 TR (+1.4%) by +0.2%. The strategy is now open to investors via our newly launched UBS AMC. Our global multi-asset model also benefited from broad risk appetite and stabilizing yields. The NDT Global Multi Asset Momentum returned +2.8%, beating its benchmark by +0.1%.
Let's dive into what happened this month:
Market Commentary
US Equities: Posted their fifth consecutive monthly gain, with the S&P 500 up roughly +3.5%.
US Federal Reserve: The Fed cut rates by 25bps to 4.00-4.25%, citing a “balanced-risk” outlook amid softening labor data. Markets now price in one further cut before year-end.
US Economy: GDP for Q2 was revised up to 3.8% annualized, while early Q3 readings showed modest but positive growth. Labor data weakened in terms of job gains and earlier payrolls were revised down.
Eurozone: The ECB kept rates on hold at 2.0%. The composite PMI rose to 51.2, marking nine months of expansion, led by services and improving German activity.
UK: Growth softened, but the Bank of England stayed on hold (4.0%) as inflation stayed at 3.8%.
US Earnings: Corporate results remained resilient; Q3 EPS is projected to rise about 7-8% YoY, led by Technology and Financials.
Rates & Dollar: Treasury yields oscillated, with 10-years near 4.1%. The dollar stabilized after its sharp first-half decline.
Alternatives/Commodities: Gold and silver posted another strong quarter (up ~11% and 17% in September), their best stretch since 2011 and 2020 respectively, while while crude softened amid geopolitical cross-currents.The S&P 500 rose +1.9% in August, with multiple fresh highs as breadth improved and equal-weight outpaced cap-weight.
Our Top 3 Performers in the US
Below are the three stocks from our NDT US-Equities Momentum Strategy that posted the strongest gains in September:
Palantir Technologies Inc (+16.4%)
Momentum built around AI adoption and Palantir’s product/customer pipeline. The stock’s September pop followed very strong August results that investors were still digesting, plus Palantir’s AIPCon 8 event early in the month showcasing new customers and use cases, both reinforcing the “AI infrastructure” narrative that kept the group bid.NRG Energy Inc (+13.8%)
NRG was benefiting from rising electricity demand, particularly tied to stress on the US power grid and increased consumption from data centers and AI workloads. On September 17, NRG raised its full-year guidance.Howmet Aerospace Inc (+12.7%)
Several supportive catalysts: S&P upgraded Howmet’s credit rating to BBB+ on Sept. 8, improving funding optics; management highlighted order strength and spares demand. All of this sits on top of a firm aerospace cycle as Airbus/Boeing work to lift output, which benefits Howmet’s engine and fastener franchises.
Our Top 3 Performers in Europe
Here are the three stocks from our NDT Europe-Equities Quality Momentum Strategy that posted the strongest returns in September:
Thyssenkrupp AG (+26.4%)
The industrial powerhouse rallied after its steel workforce approved a sweeping restructuring plan aimed at cutting costs >€100 million annually. Plus, a nonbinding bid from India’s Jindal Steel for its steel unit surfaced in September, reinforcing hopes of a value-unlocking sale.Rheinmetall AG (+13.5%)
The Europe defense and automotive technology group gained momentum on news it would acquire Lürssen’s naval shipbuilding arm (NVL), letting it expand from land systems into naval defense. The deal bolsters its position ahead of rising European defense budgets and maritime demand.Siemens Energy AG (+10.9%)
The global energy technology leader uptick was supported by a €220 million investment to expand its transformer plant in Nuremberg (capacity +50%, 350 new jobs) and strong underlying demand for grid infrastructure and power delivery solutions.
Why Now?
Enhance your diversification: Market indices are increasingly driven by a handful of dominant stocks. NDT portfolio components can broaden your exposure and provide access to overlooked opportunities.
In these uncertain times, add a rule-based component to your portfolio:Our data-driven strategies combine proven trading logic with practical implementation to bring discipline and robustness to your investment decisions.
Last Month's Strategy Returns
NDT US-Equities Momentum:
A satellite solution to complement existing portfolios with a concentrated selection of US large-cap stocks with strong momentum.
NDT Europe-Equities Quality Momentum:
Complement your portfolio with a selection of high-momentum and quality stocks out of the STOXX Europe 600.
NDT Global Multi Asset Momentum:
A systematic strategy designed to complement discretionary portfolios for long-term participation in global growth.
For marketing purposes only. Advertising according to Art. 68 FinSA. All rights reserved.
Photo by Oskar Gross: https://www.pexels.com/photo/picturesque-view-of-the-matterhorn-in-zermatt-34192160/