Bassanese Bites: Bye-bye Biden – July 22 2024
Global markets
Fears related to potential bans on US tech exports to China hurt global stocks last week, especially the US large-cap market darlings.
As was the case the previous week, relative weakness in US large-cap technology stocks contributed to the ‘great rotation’ theme – from growth to value – permeating global markets. Meanwhile, the overall ‘soft landing’ theme, supportive of both bond and equity markets generally, remains firmly in play.
