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Last Friday, US markets rebounded on the back of lower bond yields. Despite initial concerns from hawkish Fed remarks and a weak bond auction, the S&P 500 and Nasdaq Composite marked their second consecutive week of gains, reaching near two-and-a-half-month highs. Tech and communication sectors led the rally. Oil prices rose, but still recorded their third consecutive weekly decline. The 10-year bond yield at 4.61% played a crucial role, with its inverse relationship with shares in focus. Small-cap equities continued to trail larger counterparts. Investors now await this week’s CPI and PPI reports for further market insights. European markets, including the German DAX and Stoxx 50, fell on Friday due to warnings from Powell and Lagarde on potential interest rate increases.
Summary for 13.11.2023
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