After ups and downs, the U.S markets still ended their week in the green, following three weeks of negative performance. Markets started the week in the positive, in reaction to declining ISM PMI data and a weak JOLTS report. However, the week ended o with a notable decline following a stronger than expected job market from the US labour report.
After many weeks where Equities and Bonds were correlated, this week they decoupled with a positive return for equities and a negative one for government bonds. In particular, the Canadian bond yield curve increased after the BoC Governor gave a hawkish speech.
Crude Oil saw its biggest weekly gain since March 2022. This week’s price movement was caused by OPEC+’s decision to cut oil production, increasing global supply concerns.