Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Market Strategist
Summary: Fresh lockdowns in China spooked fragile global markets, given half of China’s economic growth could be erased, causing an economic speedbump. Global tech stocks fell further and commodities retreated from their highs, given the Chinese regions shutdown contribute 11% of China’s GPD. On the flip side, Australian banks and insurers have been bought ahead of interest rates rising, as they are likely to make higher profits.
Co-written by Market Strategists Jessica Amir in Australia and Redmond Wong in Hong Kong
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