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Review 20-24 Nov23 - Stocks higher, USD and bonds lower in light trading week

Key events of last week:

  • Nvidia beating expectations but outlook cautious due to China restrictions

  • US durable goods orders dropped sharply in October due to transportation

  • Strong demand for 20YR UST bond auction

  • USD down on receding growth and inflation fears

  • Oil down due to high API build and Opec+ delay

  • Strong upside surprise in UK PMI, back above 50

  • US Manufacturing PMI missed back below 50, Service PMI better


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