BlackRock, the world's largest fund manager has warned that the low volatility in markets may not last as September approaches along with a raft of other risks. With economic data showing improvement in the US economy, stock markets have been making gains whilst bonds have stayed within a holding pattern. However, September is historically the worst performing month for stocks, with a statistically significant negative bias. In the US, calls for tapering the Fed's bond-buying program are likely to get louder, whilst the budget debate will heat up as a resolution needs to be passed by September 30th. Europe may also become a source of volatility as Germany holds an important federal election and many countries in the region remain challenged financially and are struggling for growth. (VIEW LINK)
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