Weekly Commentary | November 5, 2023 | A Panic Buying Frenzy In CEFs

Summary

• Equity markets had their best week in two years due to the "bad news is good news" dynamic, with weakening labor market data.

• The Federal Reserve's statement was seen as more dovish, leading to a significant drop in the 10-year benchmark bond yield.  VIX fell below 20 - a potential sell signal.

• Bottom line, we should see a rally in all risk assets …