Powell pivot boosts equities; SocGen expects 100bps cuts and higher markets ahead
Societe Generale’s Manish Kabra said the Russell 2000’s sharp outperformance of the S&P 500 was the biggest single-day relative gain since Donald Trump’s election victory on November 6 last year. He attributed the move to Federal Reserve Chair Jerome Powell’s dovish pivot, noting that small-cap companies, which rely more heavily on borrowing to fund growth, … Read more