Is liquidity enough? By Chris Tracey, investment director The MSCI World Index, in US dollar t...
Is liquidity enough? By Chris Tracey, investment director The MSCI World Index, in US dollar terms, rose by just under 2.5% in October, but more remarkable has been the near 11% recovery of the index since its low on 21 September. The major reason for the recovery has been the further substantial fall in interest rates across the curve in the US, with the Federal Reserve cutting short rates by 50bps and 10 year Treasury yields falling by 36bps to 4.25 %, a level not seen since the 1960's. The fact that IT hardware was by far the best performing global sector over the month, rising by ...
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