The highlights:
- Donald Trump secured a return to the White House, and the Republican party achieved a clean sweep in Congress. This resulted in a continuation of the so-called “Trump trades” that had begun in anticipation in October, with investors favouring market sectors expected to benefit from Trump’s policies.
- International shares enjoyed solid gains in November, but the returns were mixed regionally depending on the perceived impacts of a Trump presidency.
- US shares surged ahead but Asia and Europe lagged. Meanwhile, Australian shares rebounded in November to set new record highs.
- Global and local fixed interest markets finished the month positively, rebounding from early volatility. Bond yields initially climbed on fears that Trump’s inflationary policies might lead to prolonged higher interest rates, but later declined as these concerns eased.
Read the update here: November Monthly Market Update