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HSBC Private Banking Cheuk Wan Fan Expects Fed to Start Rate Cut Cycle in Sep w/ No Immediate Recession Risk in US Econ
Despite the gradual slowdown in US economic growth, HSBC did not foresee an immediate recession risk in the US, Cheuk Wan Fan, Chief Investment Officer Asia of HSBC Global Private ...
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HSBC Private Banking Cheuk Wan Fan Expects Fed to Start Rate Cut Cycle in Sep w/ No Immediate Recession Risk in US Econ
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Despite the gradual slowdown in US economic growth, HSBC did not foresee an immediate recession risk in the US, Cheuk Wan Fan, Chief Investment Officer Asia of HSBC Global Private Banking and Wealth, said.

Benefiting from receding cost pressures, lower financing costs and rising productivity driven by technological disruption, many companies continued to deliver solid earnings growth, presenting the market with a large amount of investment opportunities.

Related NewsFed Announces 50bps Rate Cut, In Line; 1st Cut in 4Yrs+
The Fed is expected to cut interest rates 3 times in September, November and December 2024, each by 25 bps, and make 3 more rate cuts in 2025, each by 25 bps. Central bank rate cuts will have a positive impact on bond, equity and asset valuations.

The central banks' rate cuts of each countries will reduce the attractiveness of holding cash. HSBC will continue to have a zero allocation to cash, and is actively diversifying its investments.

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