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 40
Highlights and View
-
The latest PMI survey shows a
marked pickup in US growth
momentum
Both services and manufacturing activity have accelerated in September while input costs have soared at the steepest rate in four years. -
US government bonds sell off
sharply, triggered by strong
economic data and a weak Treasury
auction
While bond markets are set to remain volatile near term, we maintain our view that they offer good value over the longer term as real yields have risen further while inflation remains contained. -
The latest trade data from Korea,
Taiwan and Hong Kong point to
continued robust global demand for
semiconductors.
With investment in AI and data centres still running strong, we expect this to remain a tailwind for Asian economies that are well integrated into the supply chain.
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