US Fed Chair Jerome Powell stoked hopes for imminent rate cuts on Wednesday, acknowledging that global growth remains far below the Fed's forecasts in 2019.
While large-cap shares levitated on prospects of a further reduction in borrowing rates, other economically sensitive markets like small- and mid-cap, transportation, bank shares and government bond yields are not so exuberant. Copper prices and semiconductor sales aren't feeling the 'falling global demand is good' love either.
Indeed, as shown in my partner Cory Venable's chart below, the Russell 2000 index of small-cap US stocks (in red) along with government