After some uncertainty driven by the US election earlier in the month, bond markets generally performed well in November.
Flows into fixed income ETFs stalled with the market experiencing a small net outflow (-$0.4bn) for the first time since September 2022.
Uncertainty about President-elect Trump’s policy agenda is likely to drive further inflows into perceived safe-haven assets, such as cash and government bonds in the near-term.
Paul Syms, Head of EMEA ETF Fixed Income and Commodity Product Management at Invesco, comments: “Although lacking direction early in the month, November was a broadly positive month for bond markets as yields rallied into month end. While the US employment report at the start of the month indicated further signs of weakness in the labour market, with non-farm payrolls undershooting expectations and downward revisions to previous months, the Treasury market rally was limited by the imminent…
