Decision time

Recent political developments in both the US and France sparked jitters in global markets. However, amid this uncertainty, the signals coming out of Jackson Hole seem clear. “Our view would be that the Fed is cutting rates at the next meeting on the 17th of September,” says Christian Nolting, the Private Bank’s Global Chief Investment Officer. “The market is already forecasting four to five rate cuts until the end of 2026. The question is: will there be even more?”

Christian discusses the confidence vote called by France’s Prime Minister Bayrou and its impact on bond markets, warning that the weeks ahead could see “more market volatility coming out of France.” He also runs us through what will be another busy week for economic data, highlighting the numbers that will be important for Fed decision-makers in particular.

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