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Macro & Markets: Just remember to breathe
Last Friday's weaker employment data sent markets into panic mode and pushed rates into recession pricing territory. We are not convinced the US economy needs large rate cuts and do not think the Fed are either. Last week’s weaker labour market report sent markets into a tailspin Friday and Monday. S&P500 opened down 4.3% on Monday after the Nikkei had collapsed 12% overnight. Market were pricing more than 140bps of cuts before year-end with several commentators calling for the Fed to deliver emergency cuts straight away. It was less than a week since the Fed described the economy as in a good place. So how ... (full story)
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- Aug 10, 2024 9:24am Aug 10, 2024 9:24am
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- Posted: Aug 9, 2024 2:23pm
- Submitted by:Category: Fundamental AnalysisComments: 1 / Views: 2,668
