This is the exchanges at Goldman Sachs, where we discuss developments currently shaping markets, industries, and the global economy.

I'm Jake Stewart, Global Head of Corporate Communications here at the firm.

Today we're closing out in November by talking about the record month of inflows into equity markets.

We're joined by Scott Rubner of our global markets division.

Scott sends frequent notes to institutional investor clients

giving his analysis on markets,

and he's here to share his thoughts with us today.

Scott, welcome to the program.

Thanks for having me back, Jake.

All right. Stocks were on a tear throughout November and inflows into global equities

have been setting some records. Characterize what you've seen in terms of inflows into the equity space during the month of November.

So global equities, that's MSCI All Country World, is on track for its best monthly gain since 1975, up 13.4%.

And the Nasak recorded its 45th record close of 2020,

and the Dow is trading at 30,000 for the best monthly gain since January

1987 and even small caps log their best monthly gain on record for the S&P, that's 135 stocks are up 20% or more in the month of November alone.

So a tear is an understatement.

Global Equity market cap is now worth 99 trillion,

which is equal to 112% of global GDP.

As for flows, they have aggressively

been redeployed back into the equity market after the election. they have

aggressively been redeployed back into the equity market after the election and positive vaccine developments.

Global equities have logged 106 billion worth of inflows in just the past three weeks.

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