Bassanese Bites: RBA to hike – November 06 2023
Global markets
What a week! Softer-than-expected US economic data, reduced Treasury issuance, Middle East containment and a somewhat more dovish Federal Reserve saw bond yields plummet last week and equities bounce back.
US 10-year yields dropped a lazy 0.26% to 4.57%, while the S&P 500 rebounded by an equally lazy 5.9%. Helping the positive market vibe, oil prices dropped 5.9% as fear of a Middle East war escalation eased.
