Fed's Rate Pivot Seen Driving Outsized Gain in Asian Assets [BNN Bloomberg (Canada)]
Prudential Public Limited Company (PUK)
US:NYSE Investor Relations:
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Source: BNN Bloomberg
Money managers and strategists say the central bank's decision to lower its benchmark by 50 basis points is less of a gloomy view about the US economy and more about providing greater insurance for a soft landing. The pivot will help offset many of the negatives facing Asian assets including expensive valuations, China's slowdown, and growing trade tensions, they say. “The rate cut gives a clear signal to the financial markets, industrialists and householders that the Fed is supporting growth,” said Gary Dugan, chief executive officer at Global CIO Office in Singapore. “The Fed's action should be taken very positively by Asian markets.” Asian assets largely welcomed the Fed's decision from the start of trade Thursday. An MSCI gauge of regional stocks climbed as much as 1.3%, while Japan's Topix jumped more than 2%, both outperforming the muted reaction of US shares Wednesday. Asian currencies were mixed, though all except Hong Kong's have strengthened over the past month. The y
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PUK
Sec Filings
- 9/27/24 - Form 6-K
- 9/26/24 - Form 6-K
- 9/25/24 - Form 6-K
- PUK's page on the SEC website