A majority of rich investors expect a significant drop in markets before the end of next year, and 25 per cent of their average assets are currently in cash, according to a survey of more than 3,400 global respondents.
The US consumer and economy are in a "good place," and the US labor market is "very healthy," Clarida said. At the same time, risks include slowing global growth, uncertainty over trade, and persistent low inflation overseas, all of which impact the US economy.
Interest rate moves by central banks across a group of 37 developing economies showed a net fourteen rate cuts last month - the largest number since policy makers ramped up measures to kickstart economic growth in the wake of the financial crisis.
Since the Trump administration began to talk of imposing tariffs on Chinese exports in early 2018, the currency is down roughly 10%. The drop has picked up speed in August, with the yuan down about 4%.
Calvin Klein, Coach, Givenchy, Dolce & Gabbana, Swarovski — and now, Versace. The list of foreign brands that have generated online fury in China would make for a glittering evening of luxury and fashion.