Market outlook | 4th quarter 2024
Central bank decisions have been the focus of investors' attention in recent days. The Fed surprised participants with a bold rate cut of 50 basis points. The far-reaching sweeping move by the PBOC was unexpected. The measures were positively received by the stock markets. The ECB and SNB also eased their monetary policy in line with expectations.
The global economy appears to be cooling down and is now also affecting the service sector to some extent. The figures remain contradictory.
The USA is surprising on the upside and monetary easing continues to allow for a soft landing.
In Europe, economic concerns are weighing heavier.
The global bond markets have calmed down. The Fed's interest rate cut is leading to a normalization of the yield curve.
On the stock markets, the significant swings "downwards" were corrected surprisingly quickly. However, this recovery was not equally strong everywhere.
The US dollar could remain under pressure. In addition to the expectation of further interest rate cuts, rising debt in the US is also weighing on the greenback.
Gold rises to over USD 2,700 per ounce and reaches a new all-time high.
