Introduction
Global equity markets advanced in November. The expected pro-growth policies from President-elect Donald Trump following his election win helped lift equity markets over the month. Several central banks continued to lower interest rates, including the U.S. Federal Reserve Board (“Fed”) and Bank of England (“BoE”). As reported in November, inflationary pressures moved higher in October, largely in response to a slowdown in the decline of energy prices. The increase in inflation rates was widely expected by economists.
Yields on 10-year government bonds in Canada and the U.S. finished lower, with both seeing wide swings over the month. In equity markets, the S&P/TSX Composite Index finished higher, reaching a new record high in November. U.S. equities also increased. The price of oil and gold both finished lower over the month.
