Global stock markets held firm despite recent events

Global stock markets were mixed last week but in the main tended to finish the week higher – a resilient performance considering recent events in the Middle East. Not surprisingly though Oil rallied strongly last week as did Gold and the US Dollar.

Despite the terrible situation developing between Israel and Hamas, investors continue to concentrate on interest rates as the main focus. Some Fed members commented last week that the recent jump in long-term rates may mean there is “less of a need to raise the Fed Funds Rate” – to quote Dallas Fed President Lorie Logan.

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