U.S. equities experienced a slight decline this week, with the S&P 500 dropping about 1%, although large cap tech names stayed strong. In fixed income, U.S. rates rose, particularly the 10-year Treasury yield, which climbed to 4.39%, alongside market adjustments to rate cut expectations for 2025. Commodities saw oil prices recover within a certain range due to geopolitical factors, while gold ended the week nearly flat after initial gains. Inflation data remained slightly above the Federal Reserve's target, with core CPI and PPI rising modestly, but not enough to prevent an expected Fed rate cut.

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