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Global Investment MattersEquity Market Insights
October 29 2024

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This weekLearning From The 'Move' Index

The MOVE index measures the implied volatility in the US Treasury market, capturing market expectations of future price movements in US Treasuries based on the pricing of one-month Treasury options - learn why this is important.

Weekly Market SnapshotsOctober 29 2024

USA

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• The US stock market saw significant volatility driven by mixed earnings reports from major companies, particularly in the tech sector

• US Economic data indicated a stronger-than-expected growth rate of 2.8% for the second quarter, sparking debates about the sustainability of this growth amid inflation concerns​

• The Federal Reserve's policy adjustments remain a topic of intense discussion, especially as inflationary pressures and political factors complicate economic forecasts​

• Trump’s potential return to the presidency is influencing market sentiment, with many investors betting on a favourable economic outcome if he wins​

UK

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• The UK government prepares for the Autumn Budget, with Chancellor Rachel Reeves expected to announce significant tax hikes to stabilise the economy, potentially raising £20 billion from national insurance increases​

• The Labour Party is facing criticism over its handling of economic policy as it aims to address labour market uncertainties and inflation​

• Economic forecasts are gloomy, with reports suggesting that the UK economy may continue to struggle amidst rising costs and a fragile job market​

EUROZONE

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• The Eurozone's economic activity continues to decline, with manufacturing weakness persisting despite growth in the services sector, indicating a sluggish recovery​

• Germany's tax revenues are projected to fall short by nearly €60 billion, exacerbating fiscal challenges for the coalition government​

• Concerns over protectionism and its impact on global trade are mounting, with the IMF warning that rising tariffs could stifle economic growth​

• The EU is seen as lagging behind the US economically, with calls for more decisive fiscal discipline amid rising inflation​

REST OF THE WORLD

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• Emerging markets are facing increasing pressure from global economic shifts, particularly as the US and China engage in trade disputes

• The Bank of Japan is expected to maintain its accommodative stance despite global tightening, as domestic consumption remains weak

• China unexpectedly cut interest rates in response to slowing economic momentum, indicating significant concerns about recovery prospects following disappointing industrial profits

• Economic reforms are needed in several countries to foster resilience against external shocks, particularly those linked to energy prices

Performance Data & Commentary

Momentum
Performance

Asset
Allocations

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Sanlam AI
Performance

TAM
Commentary

Bowmoor CTA
Global Alpha