November 2021 in Figures
November 30, 2021
The Omicron revelation last week dwarfed all other developments that had occurred earlier in November. Equity prices and ten-year sovereign debt yields fell sharply in response. The dollar experienced strong gains during November. The price of West Texas Intermediate oil, whose prior rise has been a leading factor in the global intensification of inflation this year, fell close to 20% on net during the month to 21% below the 52-week high of $84.65 per barrel touched on October 26th. There were no central bank interest rate changes in the United States, Euroland, Japan, Switzerland or Canada during the month, but several other central banks around the world did raise interest rates in a pre-emptive way to prevent second round inflationary pressures. And a lot of investor speculation during November centered on the likely lift-off of interest rates by the major central banks. Omicron becomes a wild card in that guessing game.
| 10-Yr Yield | 11/30/21 | 10/29/21 | Nov Change |
| U.S. | 1.45% | 1.56% | -11 Basis Points |
| Germany | -0.35% | -0.11% | -24 |
| Japan | 0.05% | 0.09% | -4 |
| U.K. | 0.81% | 1.03% | -22 |
| Canada | 1.57% | 1.72% | -15 |
| Switzerland | -0.28% | -0.08% | -20 |
| CB Policy Rate | 11/30/21 | 10/29/21 | Chg in Nov |
| Fed funds target | 0.00/0.25% | 0.00/0.25% | 0 Basis Points |
| ECB deposit rate | -0.50% | -0.50% | 0 |
| BOJ policy rate | -0.10% | -0.10% | 0 |
| BOE Bank Rate | 0.75% | 0.75% | 0 |
| Swiss 3M Libor | -0.75% | -0.75% | 0 |
| FX | 11/30/21 | 10/29/21 | Chg in $ |
| EUR/USD | 1.1340 | 1.1562 | 0.0% |
| USD/JPY | 113.15 | 113.97 | -0.7% |
| USD/CHF | 0.9184 | 0.9152 | +0.3% |
| GBP/USD | 1.3300 | 1.3691 | +2.9% |
| AUD/USD | 0.7130 | 0.7526 | +5.6% |
| NZD/USD | 0.6825 | 0.7169 | +5.0% |
| USD/CAD | 1.2780 | 1.2374 | +3.3% |
| USD/CNY | 6.3643 | 6.4057 | -0.6% |
| Equities | 11/30/21 | 10/29/21 | Change in Nov |
| S&P 500 | 4567 | 4605 | -0.8% |
| Nasdaq | 15538 | 15498 | +0.3% |
| Djia | 34484 | 35820 | -3.7% |
| Dax | 15100 | 15689 | +2.8% |
| Nikkei | 27822 | 28893 | -3.7% |
| Ftse | 7059 | 7238 | -2.5% |
| Canada TSE | 20600 | 21037 | -2.1% |
| Swiss SMI | 12160 | 12108 | +0.4% |
| Commodities | 11/30/21 | 10/29/21 | Change in Nov |
| Oil, $ per barrel | 66.71 | 83.22 | -19.8% |
| Gold, $ per ounce | 1774.70 | 1785.60 | -0.6% |
Copyright Larry Greenberg 2021. All rights reserved. No secondary distribution without express permission.
Tags: 10-year sovereign debt yields, central bank rates, dollar rates, equities, oil and gold prices
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