Published Oct 8, 2024
It all looked too easy: a US soft landing, lower inflation, and a compliant-with-market-wishes Fed that was seemingly prepared to deliver to the market further 50bps rate cuts. It was easy money for investors, and bonds and equities rallied. A couple of US data points later, we still have good growth, but nascent inflation worries,…
Read MorePublished Oct 5, 2024
It happened – US fed funds rates finally peaked. The Fed’s sprung a small surprise and cut interest rates by 50bps against a marginal majority view that the fed would only cut rates by 25bps. The accompanying statement and dot plot showed that the market was right to anticipate further consistent cuts from future Fed…
Read MorePublished Oct 1, 2024
• Weak US consumer confidence data brings calls for a further 50bps Fed rate cut • China reverses prudent policies and unleashes huge stimulus – equites may have further to rally • European equities struggle with policy paralysis, but are cheap • Indian equities are expensive by historical standards, but the country continues to innovate…
Read MorePublished Sep 24, 2024
• The Fed makes a good start to the rate cutting cycle, trimming rates by 50bps • The peaking of US policy rates often means trouble ahead; we hope this time is different • US inflation is certainly in abeyance but not totally beaten • Asian and emerging equity markets offer good upside as they…
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