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With the Fed pausing hike in interest rates in November and US inflation slowing down from 3.7% to 3.2% and core CPI falling to 4%; the US 10-year interest rates fell almost 50 bps to 4.4% and Barclays Agg. Bond Index moved up 4%. This led to Euphoria in the Global Equity markets; NASDAQ moving up 9%, MSCI EM up 6% and MSCI World up 7%, outperforming MSCI India which was up only 2%.

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