Our Global Markets Chart Pack has been updated with the latest data and our analysis of recent developments.
We think the rally in developed market government bonds has gone a bit too far and that yields will rise a little despite (further) rate cuts by the major central banks. One exception is the UK where we still think investors are expecting an excessively hawkish path for policy.
Meanwhile, we think the recent underperformance of the US stock market will prove short-lived. We expect the AI-fuelled stock market bubble to inflate further, with “tech” stocks finding their way back to the front of the pack as it does so.
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