Important Information
This information is provided for general educational purposes only without regard to your particular investment needs. This material, including any attachments or hyperlinks, should not be taken as investment or tax advice of any kind whatsoever (whether impartial or otherwise) on which you may rely for your investment decisions, nor be construed as an offer, solicitation or recommendation for any investment strategy, product or service. Investors should consult their financial and tax adviser before making investments in order to determine the appropriateness of any investment discussed herein.
Material authored by any particular Artisan Partners individual or team represents their own views and opinions, which may or may not reflect the views and opinions of Artisan Partners, including its autonomous investment teams or associates. Statements are based on current market conditions and other factors, which are as of the date indicated and are subject to change without notice. While this information is believed to be reliable, there is no guarantee to the accuracy or completeness of any statement in the discussion.
All investments are subject to risk, which includes potential loss of principal. Past performance is not indicative of future results.
This material may reference index or other information that is subject to copyright by its respective service provider, including the following: MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used to create indices or financial products. This report is not approved or produced by MSCI. Frank Russell Company ("Russell") is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. Neither Russell nor its licensors accept any liability for any errors or omissions in the Russell Indexes and/or Russell ratings or underlying data and no party may rely on any Russell Indexes and/or Russell ratings and/or underlying data contained in this communication. No further distribution of Russell Data is permitted without Russell's express written consent. Russell does not promote, sponsor or endorse the content of this communication. The herein referenced S&P index ("Index") is a product of S&P Dow Jones Indices LLC ("S&P DJI") and/or its affiliates and has been licensed for use. Copyright © 2024 S&P Dow Jones Indices LLC, a division of S&P Global, Inc. All rights reserved. Redistribution or reproduction in whole or in part is prohibited without written permission of S&P Dow Jones Indices LLC. S&P® is a registered trademark of S&P Global and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). None of S&P DJI, Dow Jones, their affiliates or third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and none shall have any liability for any errors, omissions, or interruptions of any index or the data included therein. Source ICE Data Indices, LLC, used with permission. ICE Data Indices, LLC permits use of the ICE BofAML indices and related data on an "as is" basis, makes no warranties regarding same, does not guarantee the suitability, quality, accuracy, timeliness and/or completeness of the ICE BofAML indices or any data included in, related to, or derived therefrom, assumes no liability in connection with the use of the foregoing, and does not sponsor, endorse, or recommend Artisan Partners or any of its products or services.
© 2024 Artisan Partners. All rights reserved.
In the News
Another busy day in monetary policy and macroeconomic news. Here’s a handful of the headlines that caught our interest.
Fed Cuts Rates by Quarter Point but Faces Growing Split
As broadly expected. Markets didn’t seem much pleased by the announcement either.
Fed Sees Huge Demand for Cash After Money Market Jolt
The US Fed’s efforts to stabilize the cash market continue: “The Federal Reserve Bank of New York will inject a further $75bn into the US financial system on Thursday morning, in its third attempt to steady one of the world’s most important money markets.”
India Slashes Corporate Taxes to Give a Boost to Economy
Corporate tax rates will be at “the lowest levels in India’s post-independence history”—bringing the country nearer its EM peers and improving competitiveness. If the government next turns its attention to paring the bureaucracy and cutting some red tape, India may successfully jump-start its economy.
World Economy to Grow at Lowest Rate Since Financial Crisis
Surely China’s slowing growth is weighing on the global growth number, and naturally everyone would prefer more, faster growth. But it’s worth noting that 2.9% global growth (or whatever the actual number proves to be) on some $80 trillion of global output is a tremendous amount of growth.
To Keep Exports Flowing, Saudi Arabia Looks to Import Oil
Saudi Arabia’s largest oil facility was hit on September 14, temporarily knocking out some 5% of global oil supply and contributing to spiking oil prices. While it likely takes a bit for Saudi Arabia to get its oil industry back on its feet, global producers in the US may help fill the temporary supply dip—thanks to two newly finished pipelines, which will carry light crude from the Permian in Texas and New Mexico to Gulf Coast ports from whence it can be exported.
Contact the Editorial Staff
Have a question or comment? We welcome your feedback. Comments will not be made public, but will be read by a member of our editorial staff.
Thank you for your question or comment.