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Myanmar Earthquake: Death Toll Climbs to 3,145 Amid Ongoing Rescue Efforts

The devastating earthquake that struck Myanmar nearly a week ago has claimed at least 3,145 lives, with search and rescue teams continuing to recover bodies from the rubble. The 7.7 magnitude quake, which had its epicenter near Mandalay, Myanmar's second-largest city, caused widespread destruction, including collapsed buildings, damaged roads, and destroyed bridges.  Humanitarian aid groups are working tirelessly to provide survivors with medical care and shelter, as thousands remain homeless and vulnerable to disease outbreaks. The United Nations estimates that over 17 million people have been affected by the disaster, with more than 9 million severely impacted.  In response to the crisis, Myanmar's military government has declared a temporary ceasefire to facilitate relief efforts. However, ongoing challenges, including communication blackouts and difficult-to-reach areas, have hindered the full assessment of the disaster's impact.  The coming days will be critical in d...
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Global Markets Surge on Fed Rate Cut Signals



Markets around the world have rallied in response to indications from the Federal Reserve that interest rate cuts may be on the horizon for next year. This optimistic outlook has been fueled by a series of positive sessions, with stocks in Asia joining the upward trend.

Key Highlights:

  • Stock Rally: A global stock index has risen for six consecutive sessions, with notable gains in Australian and South Korean markets. The S&P 500 reached its highest point in nearly two years, and Apple Inc’s shares hit a new high.
  • Fed’s Dovish Stance: The Federal Reserve maintained current rates but hinted at a potential 75 basis point reduction in 2024, as suggested by its "dot plot."
  • Bond Market Gains: Following the Fed’s announcement, the bond market saw a significant uptick, with 10-year Treasury yields dropping below 4% for the first time since August.
  • Inflation Easing: Reports indicate a slowdown in producer-price increases and a decrease in the annual inflation rate, aligning with the Fed’s target.

Investors are now anticipating a “risk-on” rally, expecting strong performance across all markets as the Fed’s dovish stance suggests a more aggressive easing cycle than previously projected.

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