November Was The Worst Month For Crude Since Lehman [Chevron Corporation, Total SA (ADR), SandRidge Energy Inc.]

The expectations of easier monetary policy to come as well as greater investor participation via the SH-HK stock connect were possibly behind those gains.

Away from equities, core government bond markets in the US, UK and Germany produced positive total returns of 1.0%, 3.2%, and 0.9%, respectively.

With the exception of US HY, credit benchmarks on both sides of the pond have generally delivered positive total returns in November although much of that is still driven by the rally in core rates.

US HY (-0.8%) had a weak November after a positive month in October not helped by the performance in HY oil credits as well as seeing some mild outflows.

Staying in Fixed Income, EM bonds saw negative returns in Latam (-2.5%) and EEMEA (-0.9%).

Asia (+0.3%) was a relative outperformer as the region, as a net importer of energy, probably benefited from the recent sell-off in Oil prices.

This article is brought to you courtesy of Tyler Durden From Zero Hedge.

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