There is much optimism amongst stock market investors, especially after the US Fed paused on its interest rate hikes this week. Despite signalling that there might be two further rate hikes later this year, investors were quick to sense that the end of this rate hike cycle might be near. This drove a rally in tech stocks, with the share prices of Nvidia and Microsoft reaching new all-time highs. There was also improved sentiment towards the Chinese market as a series of interest rate cuts led expectations that China will be coming up with more measures to stimulate its economy. We analyse what this means for your investments and the upcoming T-bill auction. If you are keen to learn more about how to position your portfolio and manage your personal wealth in the second half of the year, sign up for the iFast Mid-Year Review on 8 July 2023. ...