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A relatively quiet finish to last week - ANZ

Analysts at ANZ explained that markets had a relatively quiet finish to last week with the US largely still on holiday.

Key Quotes:

"Risk lifted early on with the German IFO posting new highs driven by strengthening future expectations. The major U-turn from Germany’s Social Democratic Party that it was open to talks with Merkel on forming a government also helped. This lifted the Euro, sovereign bond yields and equities."

"However, a slightly weaker US PMI for November then saw risk appetites moderate. All up, sovereign bond yields finished slightly higher, with US 10-year up 2.3bps to 2.34%. The major equity indices finished 0.2-0.4% higher too, apart from the FSTE 100 -0.1%."

"Commodity prices pushed higher, led by oil and industrial metals. Headlines that Russia and OPEC have agreed to a framework to extend oil cuts to the end of 2018, pushed prices (+11⁄2%) toward 21⁄2 year highs."

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