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Weekly Macro & Markets View
What were the key global economic data releases, what is Zurich’s view and what does this mean for financial assets?
Weekly Macro and Markets View, Week 30
Highlights and View
-
Giving in to rising pressure, Joe
Biden withdraws from the 2024
presidential race.
Financial markets have so far shown a muted reaction as Biden’s decision was not unexpected and Donald Trump still has a substantial lead in polls and prediction markets. -
The ECB kept policy rates
unchanged at their meeting last
week, in line with market
expectations, as they remain in a
gradual policy easing cycle.
We think the ECB are in a new phase, where discussions are around when and how much to cut by – not if to cut further. We continue to see easing in September and December. - China’s Third Plenum policy targets were very general in nature, focusing on ‘high quality development’ The Plenum was followed by today’s policy rate cut by the PBoC, which was taken positively by H-share investors
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