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Share markets finished the calendar year weaker after an extended period of market strength while bond yields were mixed for the month.
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Share markets saw strong gains in November as bond yields retraced somewhat.
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Share markets declined in October as bond yields rose sharply, signalling an increased probability of a Trump election victory and ensuing policy that may result in trade wars, elevated inflation and increased deficits and debt (bond issuance).
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Share markets posted gains in September despite the ongoing war in Gaza and a significant escalation in the conflict between Israel and Hezbollah in Lebanon.
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