Stocks and Yields Drop as Investors Gauge Slowing Growth and Future Rate Cuts
• Global stocks and US Treasury yields fell as investors attempt to gauge central bank policy paths and slowing economic growth • Expectations have risen that the Fed will cut rates as soon as March and the ECB could cut rates in early 2024 • US job openings dropped in October to the lowest since early 2021, indicating the labor market is cooling • The US services sector picked up steam in November though new orders were flat and inflation eased • The dollar rose while the euro fell; oil prices dropped over 1% on demand concerns though supply worries persist after Russia signaled deeper OPEC+ cuts