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Week in Review: 27-31 March 2023

 Summary and Comment

 

This week, no major news, except for the Donald Trump indictment in the US, which will most likely be favorable to him next year, when the run for office begins (he will be playing the role of the victim and underdog).

In the US, PCE price index came out slightly lower than expected (core PCE ~0.3% MoM). If energy doesn't explode in the months ahead, inflation numbers will probably continue to ease, slowly.

In the UK, GDP is flat, home prices falling, and inflation pretty high! In EU, unemployment is still stable but inflation is not easing yet (~7%, far away from the 2% target).

Overall stock market in the US was positive for the week and showing less instability compared to previous weeks (banking crisis). However, we are not out of the woods yet. It starts to look more and more like a sideways market, while investors look forward to the rest of the year (recession?).

Oil went higher and natural gas lower. Precious metals stable, with gold close to 2000$/oz.

US yields were more stable, except for the 2-year that went up ~6% for the week.


Sources:
https://tradingeconomics.com/
https://www.npr.org/2023/03/31/1167281449/trump-indictment-charges-key-takeaways



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