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Copper futures settle higher on debt ceiling progress

Citigroup upgrades US stocks to neutral and tech stocks to overweight due to AI momentum and expected end of Fed rate hikes, but cuts European stocks to underweight and Chinese stocks to neutral as weaker Chinese growth will hurt European economic cycle

Citi expects two further Bank of England interest rate hikes and no rate cut in November after higher-than-expected inflation data; with cost pressures showing signs of easing, analyst continues to expect sharp cuts through 2024

US 30-year fixed-rate mortgage averaged 6.57% as of May 25, up from 6.39% a week ago; 30-year FRM averaged 5.10% a year ago: Freddie Mac

Copper futures settle down on subdued Chinese demand

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