November 2, 2023
United States:
US 30-Year Yields Fall 10 Basis Points on Fed Bets: Markets Wrap
Stocks rose and bond yields fell on speculation the Federal Reserve is done with interest-rate hikes. The pound gained after the Bank of England ruled out any possibility of letting up on its fight against inflation for the foreseeable future.
The S&P 500 advanced for a fourth consecutive session, while the tech-heavy Nasdaq 100 climbed over 1%. Qualcomm Inc., the largest seller of smartphone chips, rallied on a bullish forecast. Apple Inc. — which is due to report earnings after the closing bell — also gained. Treasury 30-year yields fell 10 basis points to 4.83%. The dollar dropped against all of its developed market peers.
https://www.bloomberg.com/news/articles/2023-11-01/stock-market-today-dow-s-p-live-updates
Europe:
German Economy No ‘Sick Man,’ Bundesbank’s Nagel Says
Germany’s economy will probably expand again next year, according to Bundesbank President Joachim Nagel.
“Germany isn’t the sick man of Europe,” he told broadcaster ARD in an interview released Thursday. “It certainly is the case that 2023 wasn’t a good year in regard to economic growth. But what’s also true is that this won’t be a year of a hard recession.”
Asia:
India’s Top Adviser Sees RBI Holding Fire If Fed Hikes Again
India’s central bank won’t face pressure to hike interest rates if the US Federal Reserve tightens monetary policy further, the country’s top economic adviser to the government said.
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