The sounds of silence. The prospect of tighter Federal Reserve policy and a disorderly slide in China’s renminbi have dominated fearful market conversations for much of the year. Now, as the frightened chatter quietens to barely a whisper, investors are playing catch-up on performance.
Many began the week embracing a disappointing US jobs report for May as another example of bad news being a good thing.
Commonly known as the central bank put, it’s when weaker economic news prompts investors to buy equities, commodities and corporate debt in the belief that interest rate policy will remain loose, or in the case of the US Fed this summer, happily unchanged.
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