Our Global Markets Chart Pack has been updated with the latest data and our analysis of recent developments.
Given that we broadly share investors' view about how far DM central banks will ease monetary policy this year and next, we forecast government bond yields in most developed markets to end 2024 close to their current levels. Meanwhile, we think investors are underestimating how many rate cuts are in store in many EMs and expect local-currency sovereign bond yields in those places to fall in the coming months.
And we think the recent weakness in the US stock market will be short-lived. In our view, the AI-fuelled stock market bubble will reflate, with “tech” stocks leading the charge.
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