Monthly report
Markets recover amid easing inflation and falling long yields
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Overview
Stocks and bonds recovered globally in November in a return of risk-on sentiment. Market expectations shifted toward major central banks holding or cutting policy rates in 2024. Inflation eased and long yields fell in major developed markets, buoying long-duration assets. The US dollar retreated, while crude oil extended losses.
Key highlights:
- Global asset classes – Widespread cross-asset recovery
- Global equities – US fares best in global rally
- Industry returns – Technology, real estate and industrials shone; energy lagged
- Alternative indices – REITs rebounded strongly in UK and Europe
- Factor performance – Size made a comeback
- Foreign exchange – US dollar retreated
This report provides actionable insights on global performance across asset classes, regions, currencies, industries and styles, using proprietary month-end data from our flagship index families.
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