What a week it has been! Or rather, what a momentous 10 days in the financial markets!
Basics: What happened the past 2 weeks?It’s been an absolute roller coaster the past 10 days, so I’ll just summarise the key bits here:
US Federal Reserve cuts rates 25bps. Jerome Powell indicates this is not the start of a rate cutting cycle, but rather a “mid-cycle adjustment” Literally the next day, Trump proposes 10% tariffs on the remainder of China’s exports to US China retaliates the following week by allowing the yuan to depreciate below the psychological 7 barrier US brands China a “currency manipulate” New Zealand, India and Thailand all cut rates, with New Zealand surprising with...