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Stock impact report

Europe's rush for rate cuts shifts global market power away from US [Reuters]

The Bank of New York Mellon Corporation (BK) 
Last the bank of new york mellon corporation earnings: 4/16 06:30 am Check Earnings Report
Company Research Source: Reuters
United States, setting markets up for major shifts as investors play a monetary policy divide opening up across the Atlantic. Investors see European stocks and debt leading global markets this year as rate cuts boost spending, softer inflation burnishes bonds and weaker currencies lift exports. Traders stepped up bets for UK easing after the BoE on Thursday rates at 16-year highs of 5.25% but , pushing sterling down and stocks higher. That came after cut rates for the first time since 2016, while Switzerland cut rates in March and the European Central Bank has flagged a June cut. In contrast, the U.S. Federal Reserve is set to keep rates high for longer. "This is the European pivot," said Florian Ielpo, head of macro at Switzerland's Lombard Odier Investment Management, who is positive on European and UK stocks. Since 2020, the United States has generated the share of global equity gains. Paul Flood, multi-asset portfolio manager at Newton Investment Management, said he was Show less Read more
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