Forecasts for a global interest-rate-cutting frenzy may not have materialised, but Nvidia and the rest of the Magnificent 7 soared another US$3.6-trillion in market value.
MSCIs 47-country world stocks index has clocked up a punchy 11% since January. Good yes, but nowhere near the 30% leap of team tech, or the frankly eye-popping 150% gain of chip champ Nvidia .
Thirty percent of the S Ps returns this year have come from Nvidia alone, the chief investment officer of IBOSS Asset Management Chris Metcalfe said, pointing out it was now the most expensive stock on the most expensive market in the world.
It is not just equity markets where milestones have been set.
Japans yen has bowed to a 38-year low against the dollar in currency markets. Cocoa had one of its best-ever runs while French bond risk has exploded to its highest level since the euro crisis after French President Emmanuel Macrons drubbing by the far right in EU elections drove him to call a snap parliamentary election, the first round of which was held on Sunday.
