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MENA investors have taken a hit from the collapse of Credit Suisse. However, the shares of Saudi National Bank have managed to bounce back.
A cross-asset consolidation has set in this morning with little real direction on major markets. The Fed minutes were an exercise in confirmation and with volatility beginning to recede, markets look for the next catalyst, with the US growth revision later today.
There has been an enormous market reaction to the higher than expected US inflation data. USD has regained strength across major forex, hitting commodities and indices too
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