This is a trend that has already begun this year, with major EM central banks already enacting rate cuts, or at least postponing planned rate hikes.
When a central bank moves interest rates there are three transmissions mechanisms between how rate movements directly influence the real economy.
Michael discusses how he should have taken Trump at his word on tariffs, and the impact of the widening trade war on global growth and equity markets as proposed tariffs approach pre-war levels.
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Over the past few weeks, futures markets have begun pricing in an increasing chance that the Federal Reserve (Fed) will cut interest rates at its July meeting. This has also been reflected in the cash bond market, where yields out to the 6-month maturity
The Fed halted tightening and propelled equities to their fastest recovery ever following a bear market. This decision was made despite the lowest unemployment rate in 40 years. Does that make sense? Also, a possible deal with China.
Mountains and molehills: Achievements and distractions on the road to decarbonization, and what comes next
Michael discusses this year���s Eye on the Market Energy paper.�� Topics include the unattainable objectives of the Green New Deal, an overview of the world���s de-carbonization challenges, Germany���s energy transition and Trump���s War on Science.
EM currencies have struggled when the PMI has been falling, and thus its equity returns have underperformed versus the U.S. and other developed markets.
Why J.P. Morgan Asset Management uses weighted average carbon intensity in its fund reporting
Dan Notto, ERISA Strategist, discusses important changes to the retirement plan landscape if the SECURE Act were to be signed into law.