Monthly Recap: November Rain

world.2015-10-30.2015-11-30

Equities

Major
DAX(DEU) +4.79%
CAC(FRA) +1.10%
UKX(GBR) +0.47%
NKY(JPN) +4.87%
SPX(USA) -0.55%
MINTs
JCI(IDN) +2.30%
INMEX(MEX) -2.01%
NGSEINDX(NGA) -6.51%
XU030(TUR) -4.51%
BRICS
IBOV(BRA) -1.23%
SHCOMP(CHN) +2.18%
NIFTY(IND) -1.37%
INDEXCF(RUS) +3.58%
TOP40(ZAF) -4.05%

Commodities

Energy
RBOB Gasoline -5.10%
Brent Crude Oil -11.02%
Ethanol -7.28%
Heating Oil -9.08%
Natural Gas -4.35%
WTI Crude Oil -11.31%
Metals
Silver 5000oz -8.39%
Gold 100oz -6.35%
Platinum -14.84%
Palladium -18.51%
Copper -10.39%

Currencies

USDEUR:+3.75% USDJPY:+2.02%

MINTs
USDIDR(IDN) +0.73%
USDMXN(MEX) +0.06%
USDNGN(NGA) -0.76%
USDTRY(TUR) -0.98%
BRICS
USDBRL(BRA) +0.40%
USDCNY(CHN) +1.29%
USDINR(IND) +1.88%
USDRUB(RUS) +4.88%
USDZAR(ZAF) +4.55%
Agricultural
Cocoa +1.63%
Feeder Cattle -14.79%
Lean Hogs -1.22%
Orange Juice +5.55%
Sugar #11 +2.00%
Cattle -6.61%
Cotton -3.22%
Lumber -3.23%
Soybean Meal -5.11%
Wheat -11.24%
White Sugar +2.58%
Coffee (Arabica) -3.65%
Corn -3.66%
Coffee (Robusta) -7.95%
Soybeans +0.45%

Credit Indices

Index Change
Markit CDX EM +0.54%
Markit CDX NA HY -0.97%
Markit CDX NA IG +5.91%
Markit iTraxx Asia ex-Japan IG -1.93%
Markit iTraxx Australia +7.62%
Markit iTraxx Europe -0.81%
Markit iTraxx Europe Crossover -7.97%
Markit iTraxx Japan +9.43%
Markit iTraxx SovX Western Europe -0.27%
Markit LCDX (Loan CDS) -0.04%
Markit MCDX (Municipal CDS) -0.50%
Most global indices ended the month in the red. The US Dollar rallied against most major currencies and the market seems to have come to terms with a December liftoff in US interest rates.

International ETFs (USD)

global.etf.performance.2015-10-30.2015-11-30

Nifty Heatmap

NIFTY 50.2015-10-30.2015-11-30

Index Returns

index.performance.2015-10-30.2015-11-30

Market Cap Decile Performance

Decile Mkt. Cap. Adv/Decl
1 (micro) +9.56% 68/67
2 +10.94% 78/56
3 +9.16% 78/56
4 +5.00% 74/60
5 +4.13% 84/50
6 +4.99% 78/56
7 +2.13% 71/63
8 +1.53% 65/69
9 +0.87% 67/67
10 (mega) -1.62% 64/71
Large caps trailed mid and small caps…

Top Winners and Losers

MOTHERSUMI +17.63%
GAIL +18.37%
PETRONET +20.69%
DRREDDY -27.39%
SUNPHARMA -17.98%
SAIL -14.34%
Biggest moves where brought about by regulatory events…

ETF Performance

PSUBNKBEES +6.77%
CPSEETF +1.19%
BANKBEES +0.34%
JUNIORBEES -0.22%
NIFTYBEES -1.87%
INFRABEES -2.50%
GOLDBEES -6.07%
PSU Banks: dead cat bounce or are government efforts finally turning things around?

Yield Curve

yieldCurve.2015-10-30.2015-11-30

Bond Indices

Sub Index Change in YTM Total Return(%)
0 5 +0.08 +0.38%
5 10 +0.13 -0.07%
10 15 +0.13 -0.28%
15 20 +0.15 -0.83%
20 30 +0.13 -0.72%
Next rate cuts are probably six months away…

Investment Theme Performance

Most investment strategies did well… November saw Quality to Price post over +250% and Momentum post over +200% gains since their inception in August 2013.

Equity Mutual Funds

Bond Mutual Funds

Institutional flows

FPIs sold off both bonds and equities…

dii-investments.2014-01-01.2015-11-30

fii-investments.2014-01-01.2015-11-30

US Yield Curve

ust-yield-curve.2011-01-18

Spread between Indian and US long bonds

ust-ind-10yr-spread.2011-01-18

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