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It was a week that felt all too familiar as another French prime minister resigned (before subsequently returning) and US stocks fell sharply following another tariff announcement.
Global equities posted marginal gains in EUR terms last week. This was despite a few market jitters in the US after Fed Chair Jerome Powell’s comments that “by many measures…equity prices are fairly highly valued”, which prevented major indices from setting their fourth record in a row on Tuesday.
On Wednesday, the Federal Reserve decided to reduce interest rates by 25bps, the first cut in nine months.