Market Comments: As of November 2015
Stock market returns moderated last month, after a post-correction surge in October. The S&P 500 gained only 0.30% in November. Small cap companies, which had been laggards for most of the year, increased a solid 3.25%. Fed Chair Janet Yellen appears more confident that December will be the right time for a long anticipated interest rate hike. The U.S. dollar strengthened and domestic bond yields, especially shorter maturities, increased in response to this sentiment. Overseas markets were less favorable for investors. International and emerging markets stocks lost 1.56% and 3.90%, respectively. Diverging monetary policy between the U.S. central bank (likely a slight tightening bias) and its international counterparts (likely an easing bias), will be closely watching by market participants in December.