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Global Markets Overview

Global Markets Overview is a monthly update on asset price moves and our market outlook.

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Global Markets Overview is published and updated every month. This includes what has happened in markets, our macroeconomic outlook and price updates on assets such as government bonds, credit and equities.

In this Global Markets Overview

What’s been driving markets?
  • Both the Bank of Canada and the European Central Bank cut headline policy interest rates a quarter point to 4.75% and 3.75% respectively. Both central banks flagged greater confidence that inflation is falling sustainably to target and both emphasised future actions will remain dependent on incoming data. While the US is not expected to cut at its monetary policy setting meeting this week, in our view these two G7 interest rate cuts are the first of many.
  • Economic data in the U.S. was mixed.
    • Job openings declined and the unemployment rate increased, suggesting US labour market rebalancing is continuing, supporting lower future inflation pressures
    • Manufacturing activity survey data disappointed expectations but services activity was consistent with strong output and declines in prices paid by services companies for their inputs
    • Employment and earnings data beat expectations, scaling back market expectations of cooling demand.
  • Evidence of continued robust demand pushed equities higher, along with continued expectations of a widespread AI build-out. Nvidia become only the third company to breach a $3 trillion market capitalisation, alongside Microsoft and Apple.

See below to download the full publication, and previous editions.


Global Head of Asset Research at WTW

David is the Global Head of Asset Research at WTW, responsible for economic and capital market research. He also is a member of the Investment Assumptions Committee, who help guide investment policy globally.

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