Top-of-mind economic headlines as we start the week:
— US GDP grew at a 3.2% annualized pace in 3rd quarter 2022 said the US Commerce Dept. vs. its original estimate of 2.6%.
— US existing home sales in Nov. were down 35% vs. 12 months ago and nearly 8% down since Oct., marking the 10th straight month of declines.
— The Conference Board Leading Index, an important forward-looking US economic indicator, is now down 3.7% over the last six months vs. a drop of 0.8% for previous six-month period.
— The Bank of Japan surprised markets by saying it would allow government bond yields to fluctuate 50 basis points vs. 25, indicating potential for rising yields and tightening monetary policy after years of stimulus.
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