Global financial markets have surged over the past three months ever since US inflation fell significantly and Jerome Powell, the chairman of the US Federal Reserve, intimated that interest rate cuts would be made during 2024.
As usual, however, both bond and equity markets have overreacted.
The FTSE World Index has appreciated by just under 13 percent since the beginning of November 2023. In New York the S&P 500 and Nasdaq Compos...
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