Market Recap 29/11/2011

  • Market Recap 29/11/2011


    Market Recap

    November 29th, 2021

    Markets

    The appearance of the Omicron COVID Variant led US major indices (2.0-3.7%) and their European peers (2.5-6.1%) into a nosedive on the worst trading day of 2021.  The VIX (59.8%) rallied to its highest level in nine months

    Sectors

    Value stocks held up better than growth, despite the pressure on leisure and travel-related stocks.  Energy (1.7%) fared best as the early week rally more than offset Friday’s plunge.    Consumer discretionary (3.6%) and IT (3.2%) fared worst

    Rates

    US treasury bond prices reversed course by surging sharply in response to Friday’s flight to safety.  The renewed closure fears put in doubt the previous outlooks on interest rate increases and bond purchases taper, leading several banks to rethink their growth outlooks.  The MOVE (21.9%) index soared

    Commodities & FX

    Oil (10.3%) prices sank sub-$70 on Friday, the lowest in more than two months, propelled by fears of demand slowdown.  Gold (2.9%) and silver (5.9%) slid, while the USD (0.0%) remained flat vs. major currencies basket

    Last Week's Headlines

    Our Favorite Charts

    Hedge Funds Lagging

    Source: Goldman Sachs, The Daily Shot

    Investor Market Share in Home Purchases Hits Record

    Source: Redfin

    Market Performance

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