- Macro: Markets ended the day lower yesterday, with both the S&P 500 and the Nasdaq down slightly, as the Fed cut rates by 50bps to the range 4.75%~5%, at the higher end of the expected cut range. The market rallied initially after the cut before selling off into the close. In Europe, the Stoxx 600 broad index was also down slightly.
- Stock: We have updates on Alphabet, Dalata, Cairn, and GSK.
- Debt: Core bond yields at the long end rose as we saw yield curve steepening after the rate cut.
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