MACRO PICTURE
US Economy and Tech Earnings Slowdown Fears Keep Markets Volatile
by Brunello Rosa, Nato Balavadze and Shane Gravel
30 August 2024
In this paper we discuss:
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The volatility experienced by markets in August;
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The causes of such volatility: recession fears in the US and wobbly tech sector earnings;
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The shift in monetary policy expectations determined by these two factors;
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The unwinding and re-instatement of yen carry trades; and
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What we expect to occur in coming months in terms of policy and markets.
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