What is behind the US equity market moves?


US equities have given up recent gains amid heightened volatility. Richard Ryan, senior fund manager for institutional credit, considers the changing climate behind the moves.

The turbulence had its origins in a sudden change of expectations for the economic outlook by equity market participants. Whilst bond markets in 2018 have been concerned that monetary policy may return quickly to a more normal footing, equity markets had remained firmly focused on growth prospects – until sentiment changed abruptly.

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