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Market Commentary

November Market Commentary

by Alex Hackett, Business Development Manager

Commentary by Universum Wealth Limited – A Thornbridge Appointed Representative

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Commentary by Universum Wealth Limited – A Thornbridge Appointed Representative

Global equity markets gained further in November following better-than-expected US inflation data and an expectation of less aggressive interest-rate hikes by the Fed. Emerging market equities outperformed developed markets, supported by signs of China easing strict Covid restrictions. This drove the 26.6% leap in Hong Kong’s Hang Seng index. In the US, the S&P 500 index gained 5.4% while the tech-heavy NASDAQ rose 4.4%. In Europe, the Euro Stoxx 50 index surged 9.6% while the UK’s FTSE 100 index added 6.7%. US treasuries dropped with the yield curve inverting even further, flashing recession signals. The Fed’s final FOMC meeting for this year is mid-December and will likely determine whether a Christmas rally closes out a very challenging year.

Author: Alex Hackett, Business Development Manager

Alex is a member of the investment funds team. She is involved in the portfolio construction process and assists with regulatory reporting, trade surveillance and monitoring.

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