It had to end eventually. The recent run higher in the Sharpe ratio for the Global Market Index (GMI) finally reversed in October. The decline marks the first time in eight months that this popular risk metric eased for GMI, an unmanaged, market-value-weighted portfolio that holds all the major asset classes (except cash).

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* Republicans score win in Virginia governor’s race
* GOP may win NJ governor’s race in the still-too-close-to-call election
* Fed expected to announce that it will begin tapering bond-buying program
* Zillow shuts down house-flipping division after forecasting model fails
* China’s service sector posted solid growth momentum in October via PMI data
* Global Manufacturing PMI steady in October, reflecting moderate expansion
* US regular gasoline edges up to 7-year high — $2.45 a gallon: