Monthly Download: December 2024

Equity markets failed to deliver a Santa Claus rally and ended the year with negative returns for the month of December. As widely anticipated by markets, the Fed cut rates by 25bps in December but the move was coupled with a cautionary tone about slowing rate cuts in the coming year. In Summit Trail’s latest Monthly Download, our Investment Team reviews the reversal of the “Trump trade” following the December Fed meeting, the underperformance of European versus US equities, and positive Chinese equity market performance despite signs of weak economic growth and market expectations on the need for further Chinese stimulus.