of the mega caps, sloth-like central bank pivots, political palpitations aplenty and M&A is back — the first half of 2024 has been another whirlwind in world markets.
Government bonds had been having a tough time anyway. Predictions of a gush of rate cuts have turned out to be just a dribble in a few parts of Europe and emerging markets and certainly not in the US yet. As a result, anyone owning a basket of benchmark bonds has lost around 1.5% of their money.“At the end of last year, the markets expected seven US rate cuts and now they are expecting just one or two,” Nadege Dufosse, the head of multi-asset at Candriam said.
The big story in commodities has been cocoa sky-rocketing almost 85% due to shortages which is already its second-biggest annual leap of all time, although certainly is not good news for chocoholics.
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