October was a positive month for most growth assets. This was largely driven by positive economic news out of the US.
The first major positive news was the US Federal Open Market Committee (FOMC) statement from Janet Yellen. Although there was no announcement on the first interest rate hike in the US in almost a decade, the statement itself was positive on US economic prospects. Two areas noted to have improved since their last meeting were household spending and business fixed investment. Equity markets reacted positively to the announcement.