Financial markets meltdown fears spread as US interest rate cut hopes fade
A fundamental shift in the global investment landscape appears to be underway.
The story begins on Wall Street, where traders have dramatically re-priced, or changed their views, on the Federal Reserve’s next interest rate decision.
The market now sees a less-than-even chance of a US interest rate cut on December 10.
To muddy the waters, the US government shutdown means important economic data releases that would have been published may not see the light of day.
It means there is a lack of clarity over the health of the US economy.
This has potential implications for millions of Australians, including those in or approaching retirement and mortgage borrowers.
The uncertainty and, frankly, fear in financial markets towards the end of this…
