Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Summary: Today we break down where the FOMC meeting - and really Fed Chair Powell's press conference more specifically - surprised modestly on the hawkish side, but why the market reaction was relatively limited as focus seems elsewhere now, especially on China's Evergrande. Still, the market bulls will have to overcome pivotal resistance in the US equity market that was the support on the way down. We also look at today's Bank of England meeting and why sterling has ignored the recent ramp-up in short UK yields, precious metals and crude oil, equity themes, Nike ahead of today's earnings report and more. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
Listen to today’s podcast and have a look at today’s slide deck.
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