The New World Order?

Discover the latest trends in our monthly Investment Note for December 2024 from Lighthouse Canton, titled "The New World Order?"

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Key highlights in our note are as following :

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• US equities capped off a positive month led by NASDAQ (+3.9%) & S&P (+1.7%). European Equities also fed off the bullish US equity sentiments with the Euro Stoxx Index gaining 4.6%. Asian equities were led by Kospi (+3.2%), Hang Seng (+2.8%) & Nifty 50 (+2.8%). CSI 300 index, however, was down 1.4%.
• US Jobs data hints at continued economic buoyancy, unemployment rate increased marginally:  Non-farm Payrolls for Nov’24 expanded by 227,000, higher than market expectations of 214,000. The unemployment rate increased marginally to  4.2% in Nov'24.
• Most central banks announced a reduction in interest rates: Reduction in interest rates was led by the Swiss National Bank and Bank of Canada with a 50 bps cut. The US Fed, the Bank of England (BoE), and the European Central Bank (ECB) reduced rates by 25 bps each, while the Reserve Bank of India (RBI) and the Reserve Bank of Australia (RBA) maintained the status quo.
• Gold price trading downwards: Gold is currently trading down around 0.2%. A strong US dollar and higher US treasury yields have weighed on gold prices recently. 
• RBI Eases Liquidity, Cuts CRR by 50 bps The RBI in their latest monetary policy meeting acknowledged the need to aid system liquidity and reduced CRR to 4%. 
• Headline CPI eases in Nov’24: India’s headline inflation witnessed marginal deceleration to 5.48% in Nov’24, marking a return to 4-6% RBI's tolerance band. However, the projected CPI for FY’25 is at 4.8%, upwardly revised from 4.5%.

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Check our report below to gain key insights about the same

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