Citing Bpaynews, UK fiscal policy remains under scrutiny ahead of the budget announcement, with potential tax hikes expected to influence sterling and gilt markets. Meanwhile, Asian equities climbed on expectations of a December Federal Reserve rate cut, despite Michael Burry’s $1.1 billion put options against AI leaders like Nvidia and Palantir. The dollar remained mixed, and Bitcoin approached $87,000 amid improved risk appetite. ADNOC Gas signed a $4 billion, 20-year supply deal, while the UAE raised oil and gas reserves. U.S. mortgage rates near 6.04% could trigger refinancing activity if they fall below 6%.
UK Budget Watch Intensifies as Fed Cut Hopes Boost Asian Stocks
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