Global funds recommended an increase in equity exposure in October to obtain bet...
BENGALURU - Global funds recommended an increase in equity exposure in October to obtain better returns at a time when stocks and bonds have rallied simultaneously on policy easing and monetary stimulus offered by major central banks, a Reuters poll found.
The S&P 500 closed at a record high for the second time in three sessions on Wednesday after the U.S. Federal Reserve, as expected, cut interest rates by a quarter of a percentage point to range of 1.50% to 1.75%, while signaling it was done easing for now. The Bank of Japan and the Bank of Canada were the latest major central banks to signal the chance of a future rate cut, after the European Central Bank restarted its printing presses last month.
“Should central banks implement aggressive measures to avoid a recession and fiscal measures also step in we could see another leg up for risky assets.” But Fed Chair Jerome Powell signaled additional cuts were unlikely because economic data so far has remained steady.
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