The Week in Markets: Two milestones in the US stock market, and one in China’s

Recent comments from Federal Reserve Chairman Powell suggest potential interest rate cuts, beginning in September. Meanwhile, the S&P 500 index has returned 30% since its April low, and the Dow Jones Industrials Average made a new high for the first time this year. The Shanghai Composite index has conclusively broken multi-year resistance. On the surface it’s driven by sentiment only, but China’s 10-year government bond yield bottomed in January and has been building a base since then. Government bond yields are often lead indicators. Additionally, a survey also shows a shift in consumer opinions, from very pessimistic to less pessimistic. In other developments, Singapore has replaced Thailand as Southeast Asia’s largest economy.

What is Beyond Markets?

“Beyond Markets” by Julius Baer is a series featuring conversations with experts to share recent market developments, key insights, and strategic inputs from around the globe. In each episode, we cut through the noise to offer practical advice and macro research on today’s shifting economic and market landscape.
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