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Bond yields fell on Friday as solid U.S. jobs data reinforced the view that the Federal Reserve would raise interest rates gradually, while stock and currency markets were cautious ahead of an Italian constitutional reform vote on Sunday. Crude futures rebounded on a weaker dollar, resuming a rise sparked by a cut in oil output agreed this week by the Organization of Petroleum Exporting Countries, the first since 2008. The strength of the U.S. November payrolls report had been seen as critical for the Fed to lift rates again for the first time in nearly a year.
Opposition candidate Adama Barrow hailed a "new Gambia" Friday after he pulled off a stunning presidential election victory, putting an end to the 22-year rule of Yahya Jammeh. Official results showed Barrow, a former migrant to Britain and a political unknown until six months ago, comfortably winning Thursday's poll, capping a remarkable rise to prominence. Jammeh conceded defeat, the chairman of the Independent Electoral Commission (IEC) said as Gambians began to take to the streets to celebrate the biggest upset in the west African nation since the incumbent seized power in a 1994 coup.