November was really about consolidation in the foreign exchange market. Recall that the US dollar had fallen against nearly all the major currencies in October. It recovered in November. No new themes emerged. The drivers remained the vagaries of the US-China trade talks, the build-up to the UK election in the middle of December, which is being heralded as a referendum of sorts on Brexit, and the broad economic outlook. Equity markets trended higher globally in November. The MSCI index of developed countries' equity market rose more than 2% for the second consecutive month, and its benchmark for emerging market ... (full story)