The infoshot to help kick-start your week
Last Week
- In the recent presidential debate, President Joe Biden’s faltering performance, marked by blunders and misstatements, raised concerns about his age and ability to compete against Donald Trump. Biden stumbled over key economic figures, like job creation numbers and drug cost caps, which are central to his re-election bid. Meanwhile, Trump also had notable missteps, including false claims about Medicare insulin prices and evading questions on election results. The debate has intensified scrutiny of both candidates’ economic policies and their fitness for office.
- The euro rose along with European stock-index futures amid speculation that Marine Le Pen’s far-right party will struggle to win an outright majority in the French elections, alleviating concerns about additional pressure on France’s public finances. Futures on French government bonds edged higher, while those on German bunds declined. Attention now shifts to whether Le Pen’s party can secure enough support in the second round of voting on July 7 to achieve an absolute majority in the National Assembly.
- Global monetary easing is underway, though not uniformly. Nearly all major central banks are moving towards interest-rate cuts. Among the 23 top central banks in Bloomberg Economics’ quarterly guide, only the Bank of Japan is expected to maintain current borrowing costs over the next 18 months. Most central banks are set to ease interest rates this year, with the Federal Reserve projected to make multiple cuts in US rates. Overall, 155 basis points are anticipated to be removed from that global benchmark rate by the end of 2025.
Market Pulse
Coming Up
- Eurozone CPI data released, Tuesday 2nd July 2024 at 10:00am.
- US FOMC Meeting Minutes released, Wednesday 3rd July 2024 at 7:00pm.
- UK General Election, Thursday 4th July at 11:00am.
Notice:
For professional advisers only, Copia does not provide financial advice, and the contents of this document should not be taken as such. The performance of each asset class is represented by certain Exchange Traded Funds available to UK investors and expressed in GBP terms selected by Copia Capital Management to represent that asset class, as reported at previous Thursday 4:30pm UK close. Reference to a particular asset class does not represent a recommendation to seek exposure to that asset class. This information is included for comparison purposes for the period stated, but is not an indicator of potential maximum loss for other periods or in the future.Open document settingsOpen publish panel
