Weekly Focus - Soft Landing Hopes Continue to Support Market Sentiment
Market sentiment continues to be supported by hopes of inflation cooling further, even if macro data came out somewhat on the strong side this week. Euro area and UK PMIs edged cautiously higher, albeit from low levels, while output price indices remained above pre-pandemic averages on the key service sectors. US jobless claims fell back after the surprising uptick earlier in November, and euro area Q3 indicator of negotiated wages continued to point towards sticky price pressures stemming from the labour markets.