Diverging Central Bank Policies Create Trading Opportunity
The market's positive reaction reflects what traders described as a "goldilocks" scenario: Japan normalizing policy while the Federal Reserve maintains an easing stance. The Fed cut rates to a range of 3.50%-3.75% on December 10, its third reduction this year, as it navigates cooling inflation and a softening labor market.
U.S. inflation eased to 2.7% in November, down from 3.0% in September, according to delayed Labor Department data released December 18. However, economists cautioned the figures may be distorted by the 43-day government shutdown that disrupted data collection.
Europe's STOXX 600 closed at a record 587.50, gaining 0.4% and extending its weekly advance to 1.6%. The index is on track for its strongest annual performance since 2021, benefiting from declining interest rates and renewed investor interest in European equities.
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