November 2021 Commentary: New Covid Variant and Persistent Inflation

Summary

• Following its best month of the year, the S&P 500 Index cooled off in November, falling
  0.7%.
• Volatility increased across markets due to a new coronavirus variant and a subsequent
  wave of government-imposed restrictions.
• The newly renewed Fed Chairman Powell acknowledged inflation was becoming more
  “persistent” and hinted at an early end to the extraordinarily supportive monetary policy.
• Pessimistic consumer sentiment data suggested increasing fatigue from inflation even as
  retail sales reached record levels.

Read and download the commentary here.