Last week, markets absorbed strong US earnings and labor data, steady BoJ policy, weak Chinese factory activity, and stronger EU growth, reflecting mixed global momentum Global equity markets mostly rose, driven by strong earnings and economic data. Bonds yields in the US and Europe climbed on positive economic reports. The dollar pared some losses and oil declined as OPEC+ decided to boost output. Gold is taking a breather after hitting the US$3,500/oz resistance, a “typical” historical extreme- 25% above its 40-week average – cooling market sentiment and momentum were key drivers (see slide 5 & 6 for details). We ... (full story)