The economic fortunes of the US and UK seem to have reversed, with the US jobs market weakening considerably, causing Sterling to rise to a one-year high against the Dollar.
The Bureau of Labor Statistics revealed a staggering drop in job revisions, with employment numbers decreasing by 818,000 from an initial figure of 2.9 million jobs.
Interest rate-sensitive sectors like tech equities, consumer discretionary, and real estate are expected to see significant price appreciation as the Fed contemplates rate cuts.
A rate cut by the U.S. Federal Reserve could provoke yield-hungry investors to shift their focus towards emerging markets, particularly if monetary loosening happens faster than anticipated.
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