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It rained but dark clouds still looming over global economy – SocGen

FXStreet (Delhi) – Kit Juckes, Research Analyst at Societe Generale, suggests that even after the recent bounce in the emerging markets and dramatic reversal of the major trends it is too early to sound the all-clear.

Key Quotes

“Q4 has started with a dramatic reversal of the major trends of the previous months. The FOMC’s decision to leave rates on hold in September was followed by soft enough US employment data to push rate hike expectations even further into the future, prompting a sharp rally in equities and commodities, along with emerging and commodity-sensitive currencies.”

“Short-covering bounce or durable turn? Surely the answer lies not in Fed policy but in the outlook for emerging market growth and, in particular, the outlook for Chinese growth and PBoC policy.”

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