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Recovery prospects propel equities and bond yields
By Evelina M. Tainer, Chief Economist, Econoday
Production declined for the 13th straight month in October and the chances of another drop in November are a virtual certainty. In contrast, retail
sales rebounded sharply in October spurred by a surge in motor vehicle sales. Inflation remains under wraps. Despite the production slump,
market players have decided that a recovery will soon begin and that Fed rate cuts are pretty much behind us. Consequently, equity prices
jumped this week while bond prices slumped (boosting yields).
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