Dollar outpaces yields—November 18, 2024

In U.S. equities, initial post-election gains were partly reversed due to a stronger dollar and higher interest rates, resulting in declines for the S&P and Nasdaq. The bond market reflected concerns over wider deficits, with the 10-year yield nearing 4.5% and the Fed showing no rush for rate cuts. The dollar surged, especially against the Euro, while oil prices fell amid bearish outlooks, and natural gas prices rose. Retail sales were mixed, with a notable contribution from auto sales, and jobless claims remained low, indicating a robust labor market.

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