Market Recap 25/10/2021

  • Market Recap 25/10/2021

    Market Recap

    October 25th, 2021


    The S&P 500 (1.6%), Dow Jones (1.1%) and S&P MidCap 400 (1.8%) all hit record highs, seemingly prompted by positive earnings surprises.  The Brazilian Ibovespa (7.3%) plunged on concerns of loss of fiscal discipline after currency interventions.  The VIX (5.4%) fell back to its pandemic lows of 15


    Real estate (3.2%) led the markets, followed by healthcare (2.9%) and financials (2.8%)Communication services (0.4%) lagged on Facebook whistleblowers and Google’s declines, as the two represent roughly 45% of the index


    US Treasury yields increased throughout the week, with the US10y (6.4 bps) touching 1.69% on Friday morning, the highest since mid-February 2020.  US20y (4.9 bps) issuance met weak demand, adding upward pressure on longer-term bond yields.  The MOVE index (14.9%) gained

    Commodities & FX

    Oil (1.8%) has comfortably settled above $80 throughout the week as Saudi Arabia continued to refuse to hike output amidst mounting pressure.  Gold (1.4%) and silver (4.4%) rose, while the USD (0.4%) edged lower vs. major currencies basket

    Last Week's Headlines

    Our Favorite Charts

    Fund Managers Sectoral Rotation

    Source: BofA Global Fund Manager Survey

    Most Pessimistic Outlook on Bonds in History

    Source: BofA Global Fund Manager Survey

    Market Performance


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