What Moved the Markets? ...Middle East

Santa Claus Rally came a little early this year. Investors dived headlong into risky assets against a backdrop of softening rhetoric from Fed members and slowing inflation.As a result, the dollar index fell by 3.5% in a month, the S&P 500 soared by 9.50% and the Nasdaq by 11.4%. Meanwhile, yields on ten-year Treasury bonds plummeted by almost 12%.Gold did not disappoint either, rising to a six-month high of $2030. Fears of an escalation of the war between Israel and Hamas also contributed to the rise in gold prices.Analysts say the yellow metal could test an all-time high just below $2,075 per ounce by the end of 2023. ING expects gold to average around $2,100 per ounce in the fourth quarter

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