A wave of interest-rate cuts by central banks including the Federal Reserve and mounting hopes of a U.S.-China trade deal are buoying confidence in financial markets just as key economic indicators show signs of stabilization after recent declines.
While a robust rebound may still not be on the cards, the relative improvement could put an end to the fears of just a few weeks ago that the world economy was barreling toward recession. Such an environment looks for now to be enough for Fed Chairman Jerome Powell and fellow monetary policy makers to take a pause from doling out monetary stimulus.
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Among the reasons for confidence: While JPMorgan Chase & Co.’s global manufacturing index contracted for a sixth month in October, it inched closer toward positive territory as both output and orders firmed.
Source: Economic Times
