Many European bourses are boasting their best month ever with France up 21% and Italy almost 26%. The MSCI measure of world stocks is up 13% for November so far, while the S&P 500 has climbed 11% to all-time peaks.

November looks set to be an awesome month for equity investors with Europe leading the charge at a country/regional level, said NAB analyst Rodrigo Catril.

However, we are now in a seasonally strong time of year and investors are yet to fully discount the potential for a very strong recovery next year in growth and profits as stimulus combines with vaccines.

The dollar has even declined against the Japanese yen, a safe-haven of its own, losing 0.5% in November to reach 104.03 yen, though it remains well above key support at 103.16.

One major casualty of the rush to risk has been gold, which was near a five-month trough at $1,789 an ounce having shed 4.7% so far in November.

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The euro has caught a tailwind from the relative outperformance of European stocks and climbed 2.7% for the month so far to reach $1.1964. A break of the September peak at $1.2011 would open the way to a 2018 top at $1.2555.

Some profit-taking set in early Monday and pulled Brent crude futures back 53 cents to $47.65, while U.S. crude eased 30 cents to $45,23 a barrel.

E-Mini futures for the S&P 500 edged up another 0.1% in early trade, and NASDAQ futures 0.4%.

Markets are overbought and at risk of a short term pause, said Shane Oliver, head of investment strategy at AMP Capital.

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The surge in stocks has put some competitive pressure on safe-haven bonds but much of that has been cushioned by expectations of more asset buying by central banks.

transmission or republication strictly prohibited.Sterling stood at $1.3325,please provide a valid email address.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. 365 Bloor Street East,as investors wagered a Brexit deal would be brokered even as the deadline for talks loomed ever larger.Early Monday,bringing its gains for the month to 16.7% for the largest rise since 1990.The rush to risk has also benefited oil and industrial commodities while undermining the safe-haven dollar and gold.a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution,© 2020 Financial Post,the dollar index was pinned at 91.771 having shed 2.4% for the month to suffer its lowest close in two years on Friday.This website uses cookies to personalize your content (including ads),

Oil, in contrast, has benefited from the prospect of a demand revival should the vaccines allow travel and transport to resume next year.

head of financial market strategy at Westpac.Japans Nikkei firmed 0.7%,having climbed steadily this month to its highest since September,you agree to ourTerms of ServiceandPrivacy Policy.In-depth reporting on the innovation economy from The Logic,MSCIs broadest index of Asia-Pacific shares outside Japan rose 0.1%,brought to you in partnership with the Financial Post.World stocks boast record-breaking month,M4W 3L4 Against a basket of currencies,said Robert Rennie,to be up more than 11% for the month in its best performance since late 2011.As a result U.S. 10-year yields are ending the month almost exactly where they started at 0.84%,and allows us to analyze our traffic. Read more aboutcookies here. By continuing to use our site,Toronto,a solid performance given the exuberance in equities.There was an error,led by EuropeA welcome email is on its way. If you dont see it please check your junk folder.Swedens Riksbank surprised last week by expanding its bond purchase program and the European Central Bank is likely to follow in December.We encountered an issue signing you up. Please try againThe idea that a potential Treasury Secretary (Janet) Yellen and Fed chair Powell could work more closely to shape and coordinate super easy monetary policy and massive fiscal stimulus that could drive a rapid post pandemic recovery saw the dollar under pressure,Ontario.

Federal Reserve Chair Jerome Powell testifies to Congress on Tuesday amid speculation of further policy action at its next meeting in mid-December.

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Cyclical recovery shares including resources, industrials and financials were likely to be relative outperformers, he added.

SYDNEY World shares were set to seal a record-busting month on Monday as the prospect of a vaccine-driven global economic recovery next year and yet more free money from central banks eclipsed concerns about the pandemic in the near-term.