Markets faced turbulence in early August due to weaker US economic data, a rate hike by the Bank of Japan, and thin liquidity during the summer.
However, sentiment shifted in September when the US Federal Reserve (Fed) initiated its anticipated rate cuts. This, combined with a more balanced stance from Japanese policymakers and new stimulus measures from China, helped ease investor concerns, fuelling a strong stock market rally towards the end of the quarter.
Developed market equities continued their upward momentum, with the MSCI World Index gaining 1.9% (USD) month-on-month, bringing the global equity benchmark to a 17.48% increase year-to-date.
The Fed played a key role in boosting investor confidence, cutting interest rates by 0.5% at its September meeting - a larger cut than expected and the first since the early days of the Covid pandemic - bringing the Fed's rate down to 5% from its mid-2023 peak. The decision was influenced by a slowdown in the US labour market, though the Fed remains optimistic about the country's economic growth.
US
Bu hikaye The Citizen dergisinin October 11, 2024 sayısından alınmıştır.
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Bu hikaye The Citizen dergisinin October 11, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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