October 2022 Monthly Market Review

In October, the developed market equities market saw its first positive monthly return since July. The rally came amid mixed earnings from the tech giants that dominate US equity market index performance and a stronger-than-expected initial estimate of third-quarter economic growth (GDP), which rose 2.6% after two prior quarters of contraction. US equities led the way, returning 8.1%, followed by international developed equities returning 5.4%. Emerging markets declined 3.1%, with China falling 16.8%. China’s losses stemmed from changes in political party leadership, hitting internet companies especially hard… (View PDF)