Risk-on momentum in stocks succumbs to mounting worries around growth
The seemingly unstoppable stock market rally is wobbling as it confronts a horde of challenges to the momentum that’s taken it from record high to record high. A rout early last month was a glimpse of how quickly things can turn bad, a sharp selloff driven by US recession fears that rocked investors used to…
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JPMorgan, Citi see two half-point rate cuts this year
Wall Street banks are ramping up expectations for an aggressive Federal Reserve easing cycle based on the latest evidence that the labour market is cooling. Economists at Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase revamped their forecasts for US monetary policy Friday after data showed the US unemployment rate rose again in July,…
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