- October brought negative returns for the majority of asset classes, especially equities as market sentiment was impacted by events in Gaza.
- Central banks continued their “higher for longer” messaging; as a result bond markets adjusted their expectations leading to higher yields which hurt prices (prices fall as yields increase).
- Given these market conditions, portfolios typically generated a negative absolute return over the month. Despite falling, bonds fared relatively better than equities over the period, dampening losses for lower risk portfolios.
For more details, please download our full October Market Digest below!