KUWAIT: Global markets this week remained dominated by the interplay between inflation concerns, rising sovereign yields, and geopolitical risks. In the US, Treasury yields retreated after touching multi-decade highs, with the 10-year yield easing from above 5.34 percent as investors sought safety amid growing concerns over France’s fiscal deterioration, before seeing declines following a weaker-than-expected September payrolls report. Economic data presented a mixed picture, with consumer spending rising 0.6 percent MoM, core PCE inflation moderating to 0.2 percent MoM and 3.0 percent YoY, and initial jobless claims falling to 197K. However, September nonfarm payrolls increased by just 29K, the unemployment rate rose to 4.
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