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Market Insight - November 2021

Under the influence of a good earnings season

Fran├žois Savary, Chief Investment Officer
Prime Partners SA,  November 2021

For the financial markets, and particularly the stock markets, October could not have been more different from the preceding month.

After the return from the summer break, investors had their doubts about the economic and financial outlook. Heightened fears of stagflation in the economy saw a sell-off in equities in September (-4.6% for the S&P 500).

However, the last few weeks have seen a return to optimism thanks to solid corporate results, particularly in the US and Europe. In this context, New York’s flagship index, the S&P 500, returned 7%, a monthly gain not seen since November 2020, when the COVID-19 vaccines were announced.

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