U.S. GDP Turnaround Tempers Recession Fears After entering a mild technical recession in the first two quarters of the year, US real GDP increased at an annual rate of 2.6% in the third quarter, beating analysts’ estimates by 0.3%. A narrowing trade deficit owing to increased oil exports combined with increased consumer and government spending were the major drivers of the growth. However, consumer spending is decelerating and the dollar is gaining strength as interest rates climb, which does not bode well for domestic demand and exports, respectively. Analysts do not expect this growth to sustain, and forecast a mild recession in the first half of 2023. Sunak Calms Markets, For Now The appointment of the former Chancellor of the Exchequer, Rishi Sunak, as Prime Minister of the UK, has temporarily calmed markets that were thrown into turmoil by his predecessor. The Pound was up 2.7% as of Friday while the 10-Year Gilt Yields fell by over 0.5% in the same week....