Global equity markets continued to rise in November, clawing back some of the losses incurred earlier in the year. The MSCI World Index rose 3.5% during the month with Asian and emerging markets racing ahead of their developed market peers. The view that inflation has peaked in the US, and that, consequently, the pace of US interest-rate rises would slow, paired with China’s modest relaxation of its ‘zero-covid’ policy, provided a significant boost to investor sentiment in the month.
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