October wasn’t much better than September for equity investors as equity markets continued to be squeezed by higher interest rates. In the US, 10-year bond yields climbed higher, leading to losses for investors in government bonds and credits as well. In Europe, however, government bonds and investment grade credits earned a positive return. Real estate also fell further, while the price of gold profited from the war between Israel and Hamas and mounting political tensions in the Middle East.
Please see Kempen’s Asset Allocation Outlook for November. The highlights this month are:
Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested. Past performance provides no guarantee for the future.