Below we highlight 15 key charts to remember from the month of November 2020.
Story #1: Global stocks soared over 13% in November - the greatest monthly gain in its history - as a $15 trillion rise in global liquidity helped to lift global stocks off those March lows, and continue to inflate asset prices everywhere.
Story #2: Dow Jones Industrial rose almost 12% in November, its best month since January 1987, as data on coronavirus vaccines buoyed bets on an economic recovery
Story #3: The $15 trillion in additional global liquidity has sent the S&P 500 to its most expensive valuation in history...
Story #4: The VIX index collapsed by almost 17 vols in November, its second biggest monthly compression in history
Story #5: November saw a combined bond/stock portfolio's second-best monthly gain since March 2009...
Story #6: U.S Cyclicals significantly outperformed U.S defensives post-vaccine...
Story #7: U.S Energy stocks were November's massive outperformer, soaring over 31% - for the greatest monthly performance for Energy stocks ever...
Story #8: Tesla just hit 600 dollar intra-day, now worth $574bn.
Story #9: While global stocks are trading at record high levels, the aggregate sovereign bond yield is at the lowest level since August. Which one would give up?
Story #10: As global stocks and bonds rallied, the dollar was battered to its 2nd worst month in almost 3 years (and down 7 of the last 8 months) to its weakest against its fiat peers since April 2018 (and unchanged since Jan 2015) ...
Story #11: The price of copper, often seen as an economic bellwether, is up 62% from its March low and has risen to its highest level since 2013.
Story #12: November was Gold's worst month since November 2016 (and is down for 3 straight months). It was the worst USD-adjusted month for gold since June 2013 (-5.2% Gold, -2.5% USD)...
Story #13: Bitcoin extends rally to top an All-time-High of $19,748.
Story #14: Cryptos had a massive month. While Bitcoin was up around 40% - its best month since May 2019 – Ripple, Ethereum and Litecoin posted even bigger gains...
Story #15: Portugal 10-year bond yield at 0.006%. It was above 15% just 8 years ago.
Source: www.zerohedge.com, Bloomberg, Holger Z, Jeroen Blokland