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Despite these market movements, lower bond yields across the curve, with 10-year bonds down 7.8 basis points, along with substantial bids in oil and gold, did not exacerbate stock losses. This may be due to comments from Fed’s Harker, who suggested that interest rates might remain steady, indicating that we might be at the peak of the economic cycle.
Looking ahead to next week, investors will be keeping a close eye on the US economic calendar, with retail sales figures set to be released. These numbers will provide further insight into consumer spending trends and could potentially impact market sentiment.
This recent market activity underscores the ongoing volatility and uncertainty within global equity markets as investors continue to grapple with geopolitical risks and inflationary pressures.
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