With the numerous global central banks expecting that inflation would be here to stay, monetary tightening is a foregone consensus, markets continue to price in the impacts of expected rate hikes. Over the month of November, Bloomberg Barclays Global Aggregate, US High Yields, and Emerging Markets US Dollar Bonds were down 0.29%, 0.97%, and 1.07% respectively, while US Investment Grades still managed to edge 0.06% higher.