The central bank events on Thursday highlighted diverging monetary policy paths, with the Bank of England (BoE) holding rates steady while the Swiss National Bank (SNB) delivered another rate cut—bringing its benchmark rate back to zero for the first time since its tightening cycle began in 2022. Policy Divergence at Play The BoE’s decision to keep rates at 5.25%, as…

The Federal Reserve kept its benchmark interest rate unchanged on Wednesday, as widely expected. The latest dot plot from the June Summary of Economic Projections (SEP) still suggests two rate cuts in 2025. However, Fed Chair Jerome Powell struck a cautious tone, urging markets not to place too much confidence in that outlook.  He highlighted ongoing inflation risks tied to…

The Bank of Japan (BoJ) kept interest rates unchanged in its June meeting, maintaining the benchmark rate at 0.5%, but unveiled a gradual plan to reduce bond purchases. The move signals that the central bank is beginning to step away from its ultra-loose monetary stance, but with a clear intention to avoid disrupting financial markets. Policy Outlook: Gradual Taper, Cautious…

S&P 500 Surges to Record High: Positioning Drives the Market What began as a structural rally led by the artificial intelligence sector has now evolved into a broad-based cross-asset risk squeeze. The S&P 500 has not only reclaimed its February highs but has also surged sharply from April lows, with market capitalization increasing by nearly $10 trillion.The market is no…

The latest manufacturing data from both the United States and China points to a renewed slowdown, with May PMI readings indicating contraction in both economies. This downturn comes in spite of reduced tariffs following an initial trade agreement reached in Switzerland earlier this month. China Manufacturing PMI Hits 20-Month Low China’s Caixin Manufacturing PMI fell to 48.3 in May 2025,…