Investment returns were negative in November. US large stocks decreased the least, while small cap and international stocks declined more than 4%. Bonds provided some diversification, and slightly increased. For the year in aggregate, most investors should be pleased: all stock categories are up significantly. Bonds have struggled as interest rates have inched higher.
October was a fantastic month for stock returns, with the S&P 500 leading the way. US small cap and international stocks followed the lead and also had attractive returns. Bonds were the notable laggard and moved little. Overall, it’s been a very beneficial year for investors. During this time, US stocks have outperformed international stocks, while bonds are down.