Macroeconomics

The general macroeconomic situation delivered some calming news. With most of the focus remaining on developments in the USA, the majority of players were pleasantly surprised to see that the labour market was performing pretty well and welcomed the news that consumer spending in September had beaten the forecasts. Most pundits saw this as an indication that the US economy is not heading into a recession and that the economy could find a soft landing. A better-than-expected trade deficit also eased concerns.

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