ACG’s November Capital Markets Review

(Download the full report HERE)

Market Highlights

  • Markets staged a strong rally in November amid hopes that the Federal Reserve has finished with the current rate hike cycle.
  • The S&P 500 was up +9.13% for the month and is now +20.80% higher year-to-date.
  • The Information Technology, Financials, and Consumer Discretionary sectors all gained double digits for the month, with Information Technology now up +52.02% so far this year.

  • Growth stocks once again outperformed Value on a relative basis with the Russell 1000 Value gaining +7.54% compared to +10.90% for the Russell 1000 Growth in November.
  • Developed International equity quietly continued a strong year. The MSCI EAFE Index was up +9.28% for the month and is up +12.27% YTD. The MSCI Emerging Markets Index rose +8.00% in November to bring year-to-date gains to +5.70%. 
  • Longer-term yields meaningfully retreated from highs during November which helped generate a strong month for bonds. The Bloomberg US Aggregate gained +4.53% in the month while long-term treasuries measured by the Bloomberg US Treasury 20+ Year index rose +9.99%.

Sources: Morningstar Direct, MSCI

Download the full report HERE to see index returns and more.