Global stocks have closed out their biggest monthly rally in three years, as investors pile into risky assets in the growing belief that the Federal Reserve and other big central banks are close to winning their battle with inflation.
The MSCI All-Country World index rose almost 9 per cent over the course of November, marking the global equities benchmark’s best month since November 2020 when news of a breakthrough in the race to develop a Covid-19 vaccine sent stocks soaring.
In the US, Wall Street’s benchmark S&P 500 index and the technology-dominated Nasdaq Composite posted their best month since July 2022.
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