The US election result was the main driver of market performance in November. Donald Trump regained the presidency, and the Republicans retained the Senate and won the House of Representatives. This clean sweep could make it easier for Trump to implement his campaign promises that include tax cuts, trade tariffs, and the deportation of illegal migrants.
Against this backdrop, global equities were up 5.0% in November. However, there remains a high degree of uncertainty about US domestic and foreign policy, and what the policy responses of other countries will be.
