The US remained resilient in October while heightened election uncertainty led to market volatility.
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With one quarter of 2024 to go, the US economy, while slowing, still remains remarkably resilient.
The US economy is slowing, however remains resilient and with certainty around imminent rate cuts, US markets performed well in August.
South African financial markets were buoyed by positive election sentiment in July and by the end of the month the Rand had strengthened by 2% year to date.
Buoyant US economic activity continued, however cracks in US consumer data became apparent towards the end of June.
Elections in South Africa took centre-stage in May, with SA equities (ALSI) initially up 3.4%, only to lose 2.4% in the last two trading days as the election results came through.
The US economy remains resilient, four months into 2024. April did, however, bring further moderation to interest rate expectations and a summer US rate cut now appears unlikely.
The strength of the US economy continues to propel investor optimism even though interest rates appear set to stay higher for longer.
Trends across the main economic regions accelerated in February, particularly in the US where employment data was again resilient.
US markets gained in January on positive sentiment with the S&P 500.