A still strong consumer and stabilized (but not lower) inflation caused the markets to sell off this week as rate cut odds fell.

Post-election results led to calming and rising markets as both stock and bond prices rose over the week.

Uncertainty over next week’s election and Fed decision weighed on stocks and bonds this week.

Election uncertainty and less excitement about China’s stimulus fed into higher yields and lower equities for the week.

Lower-than-expected inflation numbers drove a rotation from large growth toward small value stocks and a sharp drop in short duration bond yields.

External forces drove markets and led to higher volatility across commodities and equities.