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MARKETS

US markets closed for Thanksgiving – All US-related data above is from Wednesday


  • Pan-European STOXX 600 up 0.27% to a fresh two-month high
  • Energy was the best performing sector, up 1.3% bouncing from previous sharp losses
  • European bonds fell after Germany suspended debt limits for a fourth consecutive year, adding to concerns over more borrowing as the Eurozone economy slows (Bloomberg)
  • Slim majority of market watchers expect new highs for global equities (Reuters)
  • Low-cost and active ETFs attracted US$39bn in October while costly passive ETFs suffered a net US$bn in outflows (FT)
  • OPEC+ meeting delayed amid dispute over output quotas (Bloomberg)
  • Iron ore rally continues as China policy support spur hopes of property recovery (AFR)

CENTRAL BANKS

  • ECB's Nagel says peak rate is close but cannot exclude another move (Bloomberg)
  • Increasing attention on BOJ operations after trimmed JGB purchases (Nikkei)
  • Sweden's central bank keeps rates and QT unchanged (Bloomberg)
  • South African central bank opts for another hawkish hold (Reuters)

GEOPOLITICS

  • Four-day Israel-Hamas ceasefire has been delayed until Friday (Bloomberg)
  • Dutch right wing populist Geert Wilders wins parliamentary elections (Bloomberg)
  • US and Chinese working to increase flights between two countries (Bloomberg)
  • Inter-Korean tensions ratchet higher after Pyongyang scraps military accord (FT)

CHINA

  • China steps up efforts to revive property sector with measures aimed at plugging industry funding shortfalls (Bloomberg)
  • China seen to hold MLF rate steady for rest of 2023 (Bloomberg)
  • Country Garden leads rally in China property following support headlines (Bloomberg)
  • One of China's largest shadow banks warns it's "severely insolvent" (Bloomberg)

ECONOMY

  • US short-term inflation expectations climb to 7-month high in November (Bloomberg)
  • US mortgage rates fall to lowest level since September at 7.29% (Bloomberg)
  • Eurozone PMI shows stabilisation in November (Bloomberg)
  • UK services sector supports economy in November (Bloomberg)
  • French business confidence weakens further in November (Reuters)
  • Germany PMIs fall more slowly than previous month (Reuters)


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