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Review 04Dec - 08Dec23 - Stocks mixed, USTs up, Gold&Oil sharply lower, USD stronger except vs JPY

Key events of last week:

  • ISM Services PMI at 52.7 better than expected vs 51.8 for Oct.

  • RBA kept rates at 4.35% as expected as cooling inflation and labor market suggest rate hikes having an impact.

  • Jolts data lower than expected indicating a slowdown in the labor market

  • US Non-Farm Payrolls slightly better than expected at 199k with most job gains from the health sector, Read more here.

  • US unemployment rate dropped to 3.7% from 3.9% as household survey shows a very strong increase of 747,000 jobs. The U-6 rate also dropped to 7% underlining the strong labor market report.

  • Michigan consumer sentiment jumped to 69.4 from 61.3 as inflation concerns dissipate as shown by 1 year Inflation expectations which fell sharply to 3.1% from 4.5%

  • China's consumer prices for November unexpectedly fell by 0.5% month-over-month, contrary to expectations of a 0.1% rise. Year-over-year, consumer prices are now down by 0.5%. Read more here.


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