au en false false

IMF Fall 2023 Meetings Takeaways

November 2023

 
The world begins to worry about the US fiscal deficit.
Higher for longer US rates and the size of the US fiscal deficit were concerns shared in every meeting.
  • Rapidly rising long-term US real yields are sucking up global capital and raising global borrowing costs raising
  • the risk of financial accidents as credit is scarcer to lower rated borrowers.
  • Global growth outlook is mediocre, with only the US and China characterised by exceptionalism.
  • Global inflation is falling but too high, with US inflation still far from converging to target.
  • Pessimism on the outlook for China’s growth was pervasive, excessively to our eye, but China has policy options.
  • Against this concerning backdrop, the resilience of emerging market economies shone through; EM’s low
  • debt levels and independent central banks praised.
  • Turkey, Brazil, Indonesia, South Africa, Hungary, and Czech Republic were among the major EMs that showed continued policy credibility
Click here to view the full commentary.
Any views expressed are opinions of the author at the time of writing and is not a recommendation to act.
VanEck Investments Limited (ACN 146 596 116 AFSL 416755) (VanEck) is the issuer and responsible entity of all VanEck exchange trades funds (Funds) listed on the ASX. This is general advice only and does not take into account any person’s financial objectives, situation or needs. The product disclosure statement (PDS) and the target market determination (TMD) for all Funds are available at vaneck.com.au.
You should consider whether or not an investment in any Fund is appropriate for you. Investments in a Fund involve risks associated with financial markets. These risks vary depending on a Fund’s investment objective. Refer to the applicable PDS and TMD for more details on risks. Investment returns and capital are not guaranteed.
Exchange Traded Funds (ETFs)
Information about
Education
Connect with us