A dovish momentum for the end of the year

Risk assets remain on a positive momentum as the Fed delivered its first rate cut of the year; equity markets are up for the 3rd consecutive week with some sector and geographical dispersion, credit spreads tightened and volatility is still depressed across the board (10-day realized vol of SPX is 5%, MOVE to its lowest since 2022). Our Risk Perception Index (NXSRRPI Index) is steady below 20%. The key market drivers remain AI momentum and hopes for a real Fed cutting cycle while recession risk remains on the back front.The FOMC meeting was the key event of the week. Our key take-aways are: i/...

昂貴的免費午餐：投資者為何擔憂印尼的財政前景（繁）