Global Markets In November - Besieged By Volatility: CARE Ratings
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CARE Ratings Research Report
November started with encouraging signs of global economic progress even as concerns over rising prices loomed.
Stocks initially rose on strong company earnings report, energy prices climbed as demand picked up and bond yields climbed on inflationary pressures linked to economic resurgence.
As the month progressed, pandemic related fears once again came to the fore. A rise in Covid-19 infections in Europe and associated restrictions there hit investor sentiments. This was aggravated by the emergence of a new, potentially more contagious, variant of the Covid virus which has triggered a fresh wave of restrictions across countries and raised concerns over the implication it holds for global economic recovery.
This provoked a sell-off in riskier asset classes and a rush towards safe haven assets. Thus, stock declined, oil slumped, dollar strengthened and bond yields fell by month end.
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