LONG TERM CAPITAL FUND FACTSHEET (NOV)

Vol. November 2023 – Long-Term Capital Fund Factsheet.

November was a strong month for asset returns in equities and fixed income, with US dollar sliding sharply against most major currencies. The most significant market movement was the sharp drop in US Treasury yields. Investors anticipated that the Fed would stop raising rates due to declining inflation, which contributed to the current market rally. This is stark contrast to the peak pessimism shown in late October with CNN Fear & Greed Index at “Extreme Fear” and National Association of Active Investment Managers reporting lowest equity holdings in a year. Many investors, therefore, have under-allocated to US Equities.

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