The Paris Bourse continues its upward trend in this "3 Witches" session, which concludes one of the best November stock market months of the last 20 years: the CAC40 is up 0.9% at 7,233 points, and has so far gained 2.6% over the week, and more than 6% since October 20.
The euro-Stoxx50 is not to be outdone, with +0.9% at 4,340Pts and +3.3% over the week.
On Wall Street, the US equity markets are also heading for an almost 100% positive week, with the Dow Jones and Nasdaq both up around 2% for the week, and set to record their 14th out of 16 up sessions (i.e. a ratio of 7 rises to one symbolic decline).

While investors are now clearly betting on the end of the monetary tightening cycle by the major central banks, the slowdown in inflationary pressures has not entirely reassured them.

"It's clear that the central banks' battle against inflation is far from over," says Thomas Hempell, economist at Generali Investments.

Rates will probably remain at their current level during a prolonged pause - with the first rate cuts unlikely before the second half of 2024', the analyst points out.
US T-Bonds are nevertheless easing by -4pts and the '10-yr' is back on 4.400%, erasing almost 20 basis points over the week.

Economic data released this week were mixed, but traders focused on the moderation in inflation.

The Commerce Department reported a 1.9% rise in US housing starts in October, to an annualized rate of 1,372,000, a level rather above economists' expectations.

Similarly, U.S. housing permits - thought to foreshadow future starts - rose by 1.1% to an annualized rate of 1,487,000 last month, also exceeding consensus.

The oil market is attempting to halt its correction due to the increasingly serious prospect of a slowdown in the global economy, but is also heading for heavy losses for the week.

Brent crude oil nibbles 1% to $78.25 a barrel, while US light crude (West Texas Intermediate, WTI) recovers to $73.5.


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