Market Recap
December 27th, 2021
Markets
US markets made up lost ground from the previous week amid fading uncertainty. The Nasdaq (3.2%) outperformed the S&P 500 (2.3%) and the Dow Jones (1.7%). The VIX (16.7%) declined
Sectors
Growth outperformed value. Consumer discretionary (3.3%) led by a wide margin, followed by IT (2.6%). Utilities (1.3%) and financials (1.2%) lagged
Rates
The Fed’s preferred inflation gauge, the 12-month Personal Consumption Expenditure (PCE), jumped in November to 5.7%, the highest rate since 1982. The MOVE (6.7%) index declined
Commodities & FX
Oil (4.1%) continued to rise for the third consecutive week as worries over the effect of Omicron on demand faded. Gold (0.3%) and silver (2.8%) rose while the USD (0.6%) declined vs. major currencies basket
Last Week's Headlines
Our Favorite Charts
2021 Bond Fund Flows
Source: EPFR, Haver, Deutsche Bank
Most S&P 500 Constituents Underperformed the Index in 2021
Source: S&P, FactSet
Market Performance
Disclaimer
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