Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Global Head of Macro Strategy
Summary: US Fed Chairman Powell changed his tone in an interview on Friday, as he made it clear that he hears the market’s concerns even if he doesn’t share all of them. The market reacted strongly, sending the USD lower even as a very strong US jobs report provided confusing counterpoint to the development.