November 2023: strong recovery on stock markets

November 2023: strong recovery on stock markets

It can change. After a few bad months, stock markets showed a particularly strong recovery in November, while bond investors benefited from further falling long-term interest rates.

While stock markets fell in September at higher interest rates and fell further in October at lower interest rates, November presented a completely different picture for investors. Although long-term interest rates fell further, stock markets showed a particularly strong recovery. All investment categories delivered positive returns, with listed real estate (+13.6% in November) as an absolute outlier. Nevertheless, listed real estate remains the strongest laggard for the whole of 2023 so far, with a return of less than 2% since the beginning of this year.

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