This week has been quite favorable for global risk assets, with a boost coming largely from unexpected cooling in U.S. inflation figures and some dovish comments by FOMC members, notably Waller. As a result, Treasury yields took a significant dip from their 14-month peaks. This downturn in yields lent support to a rally in stocks, gold, and bitcoin, each of which reached new heights. Meanwhile, the price of crude oil fluctuated between $77 and $80. This volatility was partly driven by news of U.S. sanctions targeting Russian oil companies and ongoing speculation about potential ceasefire discussions between Israel and Hamas.
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