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Deja Bù: Mark reconnects with Jessica Harnois, founder Bù Wines | SaltWireWorld markets are trying to calibrate last week's steep rally in stocks and bonds - tempering some of the overcaffeinated rate cut hopes that emerged but sustaining the bulk of the gains and lapping up a fresh oil price slide.
Aided by a renewed slide in oil prices, where U.S. crude fell below $80 per barrel for the first time since August after disappointing Chinese export readings, 10-year Treasury yields are on the back foot again on Tuesday and hovered around 4.60% ahead of the open.The oil price slide was helped by signs from Israel that it's open to pauses in the Gaza fighting.
China's poor October export numbers paint a worrying picture of global demand at large - but the wider report was more mixed and imports surprised on the upside last month. Overall, the global stocks picture reflected some of the cooling of last week's rally and some of the China export numbers. Asia bourses were lower, with Japan and Hong Kong losing more than 1% and South Korea's Kospi recoiling 2% after Monday's surge. European stocks were down more modestly.
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