Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Last week focused on the outlook for US equities as they once again reached all-time highs. The current valuation levels have only been observed during the dot-com bubble and therefore the only proxy we have for future returns is the period following that bubble. Cryptocurrencies are still in the midst of an upward charge as bullish investor sentiment prevails.
China will kick off its 14th National People’s Congress, Tuesday. More than a dozen US states hold Republican and Democratic primaries on Tuesday. UK Chancellor Jeremy Hunt unveils annual budget, Wednesday. Fed Chair Jerome Powell testifies before House committee, Weds and Senate committee, Thurs. ECB rate decision, Thursday. US President Joe Biden delivers the State of the Union address, Thursday. Eurozone GDP, Friday. US nonfarm payrolls, unemployment, Friday.