After a volatile start, markets grew bullish in September as the long awaited first cut by the Federal Reserve came, and China delivered the surprise monetary and fiscal policy announcement that many had lost hope it would ever come. Sentiment is now strong, but gold and defensive equities once again
The key moment in the global monetary policy cycle finally arrived in September, the US Federal Reserve (Fed) delivering its first interest rate cut of this cycle, the only surprise element being its size at 50bps. Other major central banks, including the European Central Bank (ECB) and Bank of England,
The chart above shows the recent performance of Chinese equities, proxied here by the country’s blue-chip CSI 300 index of Shanghai and Shenzen- listed companies, following the announcement of monetary stimulus from the