Markets Cautious Amid Israel-Gaza Conflict as Attention Turns to Bank of Japan Meeting, Increased US Borrowing
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Markets remain cautious amid conflict between Israel and Palestinian militants in Gaza. Oil prices have fallen and US futures are up.
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Attention is on the Bank of Japan policy meeting ending Tuesday. The BOJ is expected to raise inflation forecasts but may hold off on yield curve control changes.
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The US Treasury is likely to announce increased borrowing estimates this week given high government spending needs.
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US Q3 GDP grew a strong 8.5% but borrowing kept increasing despite the economic strength.
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The Federal Reserve is seen holding rates steady at its meeting this week. The earnings season continues with Apple, Airbnb, McDonald's and others reporting.