The major U.S. equity benchmarks ended higher with growth stocks outperforming their value counterparts. Meanwhile, the Dow Jones Industrial Average Index did enter bull market territory on the final day of November, when it closed more than 20% above the low it hit in September 2022. Comments from Fed Chair Jerome Powell signaling smaller interest rate hikes going forward drove U.S. Treasury yields lower this week. On Friday, however, yields partially retraced their earlier moves after U.S. employment data showed strong hiring and wage inflation in November. Shares in Europe rose for a seventh week In a row, as lower inflation spurred hopes that central banks could slow the pace at which they are tightening monetary policy. Signs that China was relaxing some coronavirus restrictions also buoyed sentiment. European government bond yields fell after data showed that euro area inflation slowed more than expected in November. Japanese equity market returns were negative for the week, with the Nikkei 225 Index falling 1.8% as the yen strengthened. Chinese stocks rose amid signs that the Fed would slow the pace of interest rate hikes and that Beijing was moving closer to fully reopening the economy after months of pandemic controls. The dollar fell for the 6th week of the last 7, breaking below its 200-days moving average. Commodities all benefited from a weaker dollar. Bitcoin regained $17k while Ethereum soared.