December 2022

Cooling inflation and optimism over the future path of interest rates led markets higher across the globe in November. The benchmark S&P 500 gained 5.59% on the month, while the Bloomberg Aggregate Bond index advanced by 3.68%, as interest rates fell across most of the yield curve. International markets were an even larger beneficiary of November’s rally, with the MSCI EAFE gaining 11.26% and the MSCI EM index moving nearly 15% higher, both buoyed by a sharp decline in the U.S. dollar. 

Equity