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Week in Review: 6-10 November 2023

Financial Markets

Week-on-week, the main stock market indices continued rising, with the S&P500 gaining 1.3%, the NASDAQ 100 up 2.9%, and the RUSSEL 2000 3.2% in the red. 

Gold is down by 2.7%, and silver lost 4.1%.

The barrel of WTI is down 4.4% to 77$ per barrel.

Bitcoin rised 6% and is now around 37100$.

The relative strength of the US dollar rised 0.7%. 

US bond yields are stable, now sitting at 4.65% for the 10-year and 4.77% for the 30-year. The US bond yield curve remains inverted and is now peaking at 5.49% in 6 months from now.


Comment Section

The week started with enthusiasm in the S&P500 and NASDAQ, which halted on Wednesday and Thursday. On Friday, as the day progressed, the positive momentum returned. Looking outside the big cap space, as in the Russel 2000, the week was pretty negative, and shows overall weakness in the economy. It is our view that this rally might last a few more days before reversing to the downside again. Take care, and subscribe for more news.

 

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