Blue Horizon Wealth Management Partner Nov. 2013

ECB’s rate cut and the Iran deal bolster markets

The ECB’s surprise rate cut on 7 November gave markets for risky assets a further boost. Credit spreads tightened across the board and major equity markets rose. The S&P500 climbed 3%, the EuroStoxx50 0.8%, and the Japanese Nikkei a remarkable 9.3%. Emerging markets, however, failed to benefit from the broad-based rally and fell 1.5%, and then, after Fed tapering fears reemerged last week, the other markets

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