- The Fund’s USD I Class is up 4.44% year to date
- US data still mixed; but FOMC set to hike rates in December
- Chinese renminbi granted reserve currency status
- Russian bonds continue their strong run
A tricky month for most asset classes: commodities plummeted further and currencies struggled as the dollar rallied to year highs. Geopolitics and the attack in Paris did not help market sentiment last month, however, relations between Russia and the West thawed somewhat over military cooperation against Islamic State. Elsewhere the Fed’s tone turned more hawkish through the month.