Market Recap 15/11/2021

  • Market Recap 15/11/2021

    Market Recap

    November 15th, 2021


    US major indices (0.3-1.0%) retreated following the highest year-over-year inflation reading in three decades.  The Russian RTSI (3.5%) reversed its course on escalating Russia/Ukraine tensions and lower oil.  The VIX (1.2%) remained muted


    Materials (5.0%) fared best, seemingly following the Biden administration’s infrastructure bill passage.  Consumer discretionary (0.7%) fared worst on Tesla’s 15% dive following Musk’s shares sale announcement


    The US10y (11.5 bps) fell at the beginning of the week to 1.41% intraday as US/China tensions made headlines, and later rose to 1.58% on inflation concerns and the weak demand for longer-term bonds in auctions.  The MOVE index (17.5%) soared

    Commodities & FX

    Oil (0.6%) continued to decline as investors expected the US to announce the release of strategic petroleum reserves.  Gold (2.6%), silver (4.7%) and the USD (1.0%) (vs. major currencies basket) all rose

    Last Week's Headlines

    Our Favorite Charts

    Debt Allocation as % of AUM in BofA’s Global Wealth Management

    Source: BofA

    Bond Flows by Category

    Source: Deutsche Bank, EPFR, Haver Analytics

    Market Performance


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