📆 Friday, November 17
► European stock markets saw strong gains with the Stoxx 600 up nearly 1%. Markets were shocked about way weaker-than-expected retail sales In the UK (as predicted by our chief analyst Robert Lindner). There was a 0.3% dip in retail sales for October (vs. expectations of a 0.3% rise), indicating slowing consumer spending, which also significantly decreased rate hike expectations further boosting UK stocks and weighing on the GBP (we benefited strongly from the surprising weak data). UK's FTSE 100 up 1%, the GBP fell but as able to trim losses against its peers as bond yields in the Eurozone and the US slid.
► The DAX in Germany and the CAC in France both trade up near 0.9%. Final Eurozone inflation data for October came in line with expectations and Flash data and again showed the rapid disinflation in the Eurozone. In the bond market, notable drops in yields were observed due to recent inflation data from the US, UK and Eurozone. We see Germany's 10-year yield down 7 basis points to 2.523%, and the UK's 10-year yield down 10.5 basis points to 4.047% following also the weak UK retail sales.
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