Monthly financial markets outlook | November 2021

Global risk assets bounced back strongly in October with the MSCI ACWI gaining 5.1% led by US large caps (+7%) and developed markets growth stocks (+6.7%) in dollars. Tech stocks that had come under pressure on news of policy normalisation performed exceptionally well buoyed by strong third-quarter earnings. More than 83% of tech companies that had reported their earnings at the end of October outperformed expectations.