December 2025

November 25 Update

Monthly Wrap-Up /

1. Global Equity Markets Developed market equities staged a late surge in November, enabling the MSCI World Index to close the month slightly higher (+0.3% MoM), marking the eighth consecutive month of gains and pushing global equity returns to +20.6% year to date. Momentum faded in the mega-cap technology space, with both the Nasdaq and

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