The week ahead – Soft GDP puts a 50-basis point OCR cut on the table

What a week! The S&P 500 index rose 1.2% to fresh highs last week, buoyed by solid economic indicators and the first rate cut from the Federal Reserve since last year.

The Russell 2000 (a US small-cap index) was up for a seventh straight week, while credit spreads tightened to levels last seen in 1998.

Here in New Zealand, we saw a very weak GDP report, that’s got people talking about a 50-basis point OCR cut in October.

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