Market Review November

Stock Exchange sale bargains

This year's Black Friday offered some great promotions on financial assets. This enabled investors at the beginning of the month to achieve a fine performance. Equities are the main asset class to benefit from this renewed optimism, with gains taking indexes into positive territory for the year. Swiss equities are still lagging behind the US and Europe, due to depressed major stocks such as Roche and Nestlé. 

Interest rates are easing, with a positive impact on bond indices. Nevertheless, global bonds continue to lag behind Swiss bonds. Swiss real estate performed well, but is still in negative territory for 2023.

Oil is still under pressure, while precious metals and gold in particular are stabilizing after a good month in October.

The risk indicator fell sharply over the month, with sub-indices down on all components except commodities.

MAIN performances

XO Risk Aversion Index - Composite 250D

XO Risk Aversion Index - Components