A traders works on the floor of the New York Stock Exchange on July 8. Stocks have bounced back spectacularly from their slump in late 2018. Photo: AFP
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Why the stock market rally will not last long, despite dovish moves by central banks

  • While recent stock market gains are rooted in confidence that central banks will ease monetary policy, investors are not moving into assets that profit from stronger growth. This indicates a lack of faith in the effectiveness of more stimulus

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A traders works on the floor of the New York Stock Exchange on July 8. Stocks have bounced back spectacularly from their slump in late 2018. Photo: AFP
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Federal Reserve chairman Jerome Powell speaks at the Council on Foreign Relations in New York on June 25. Expectations are building that the Fed will cut rates later this year. Photo: Reuters
David Brown
Opinion

Opinion

Macroscope by David Brown

The global economy needs an end to the US-China trade war and increased spending on public services – not more interest rate cuts

  • The world has been awash with easy money for a decade and interest rates are already dangerously low. To boost bonds and reward savers, global stimulus should involve more coordinated spending on infrastructure, health and education

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Federal Reserve chairman Jerome Powell speaks at the Council on Foreign Relations in New York on June 25. Expectations are building that the Fed will cut rates later this year. Photo: Reuters
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