When the Federal Reserve delivers a widely-anticipated interest rate cut on Wednesday, its first in four years, the move will resonate well beyond the United...
LONDON - When the Federal Reserve delivers a widely-anticipated interest rate cut on Wednesday, its first in four years, the move will resonate well beyond the United States.
Confidence in Fed cuts starting is a boon for bond markets globally that often move in lock step with Treasuries. JPMorgan notes the dollar has strengthened after a first Fed cut in three out of the last four cycles.The safe-haven yen and Swiss franc could see their respective discounts to U.S. rates almost halve by end-2025, Reuters polls suggest, while sterling and the Australian dollar may only acquire a marginal yield advantage over the dollar.
A U.S. soft landing should also play well in Asia, although the Nikkei has fallen more than 10% from July's record high on a rising yen and as Japan's rates rise.In commodities, precious and base metals such as copper should benefit from Fed rate cuts, and for the latter the demand outlook and a soft landing are key.
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