Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Summary: Risk off sentiment hit equities in Tuesday’s US session as debt-ceiling impasse continued and chip wars accelerated with Japan imposing new curbs on the export of chip-making technology to China. Eurozone PMIs disappointed and US dollar rose. NZD in focus with RBNZ meeting ahead and Fed Governor Waller and FOMC minutes will be on tap later. Nvidia, the star of the equity markets this year and the leader of the AI race, reports earnings today.