The credit impulse for 2024 is expected to be abysmal, signaling a sharp rise in rates volatility. Equities are still considered expensive on most parameters. The trends for JPY and CNY are expected to continue worsening. While Nat Gas bulls have reasons to cheer, oil bulls have less to celebrate. In 2023, momentum saw a positive impulse from lower input costs for production and easing financial conditions. The US Treasury's reliance on T-bill issuance has been embraced positively by risky assets. Private sector imbalances in the US economy are not particularly large. The EUR/USD exchange rate fluctuated between 1.049 and 1.061 until October 22nd, 2023, but thereafter it followed an instantaneous daily uptrend on October 23 to finally secure the price of 1.0668. However, at the finish of October, the Euro notched a slight drop, but it was still trading higher than the levels at the end of September. [576a7b97]
Source: Smartkarma
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