Bassanese Bites: December rate risk – November 27 2023
Global markets
Global equities continued to grind higher last week as the main event – the Fed minutes – did little to dissuade markets from the view that the Fed has finished raising interest rates. With inflation continuing to ease and some signs of softening in economic growth, the Fed appears to be comfortably on hold with a lingering modest tightening bias.
Bond yields edged back up a touch last week, while the $US continued to weaken. Also helping sentiment last week was apparent disagreement among OPEC members over whether oil production should be cut deeper to support prices.
