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This summer saw “Cheerleader” become Billboard's top hit, the return of the jumpsuit for women and ‘monochrome’ outfits for men. Unfortunately most fund managers haven't been able to enjoy these trends as August stocks saw their worst performance since 2011, it was pretty much all hands on desk.
Some of the readers of Macro Matters have asked me whether I had perhaps written the last one, “The good and bad of low growth”, from a remote island during one of my shark diving trips, completely separated from markets, as I didn’t explicitly comment on all major events and headlines.
The US Federal Reserve remains a secretive organisation. For good reason, they are highly guarded about potentially market sensitive information. However, in a recent embarrassing leak, they accidentally posted its staff forecasts from the June Federal Open Market Committee (FOMC) on the internet.