Market Recap 15/11/2021

  • Market Recap 15/11/2021


    Market Recap

    November 15th, 2021

    Markets

    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

    Sectors

    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

    Rates

    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

    Disclaimer

    This document is intended for informational purposes only and does not constitute an offer, recommendation, advice or invitation to enter into any transaction or investment, including but not limited to the purchase and/or sale and/or holding of securities and/or financial assets described herein.  Analysis presented herein is based on information provided by external sources believed to be reliable, and assumptions which may change or not materialize.  Levy Heritage did not independently verify the information and does not attest to its accuracy.  Levy Heritage assumes no responsibility for errors or omissions in this document.  Past performance is no guarantee of future results.  Each investor has different goals and therefore should seek further personalized professional advice in relation to any investment which will take into account the investor’s specific data, circumstances and needs.  Each investment involves risks and cannot be given a guarantee that the investment objectives or return on investment will be achieved, in full or in part.  Levy Heritage does not provide legal or tax advice, and recommends that all people considering such advice consult with independent legal, tax and other relevant professional advisors in their countries of origin or residence.  The information contained in this document is confidential, privileged and only for the information of the intended recipient and may not be used, published or redistributed.  Levy Heritage and/or its affiliated companies and/or its shareholders and/or employees shall not bear any responsibility for any damage and/or loss caused by the use of the enclosed information.