Eurozone Economy Slips into Mild Recession Amid Cautious Global Markets During US Thanksgiving Holiday
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European stock futures were higher amid muted trading with US markets closed for Thanksgiving. Flash PMIs showed eurozone economy slipped into mild recession.
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Dollar retreated with low volatility expected due to US Thanksgiving holiday. Yen could strengthen if US enters recession, reinforcing safe-haven status.
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Treasury yields rose. Global bonds repriced significantly over past 2 years, leaving valuations close to fair value. Interest rate rise is positive long-term development.
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Oil futures mixed as OPEC+ delayed meeting on potential cuts to November 30th. Expect continued volatility until then.
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UK consumer confidence rebounded in November ahead of key holiday shopping season, reversing much of previous drop.