Pessimism about the prospects for US interest rates cuts has been growing steadily as 2024 has developed. But there was a big change last Friday.

Global stock markets had a challenging week due to continued uncertainty around the timing of interest rate cuts in the United States, as well as mixed corporate earnings figures.

In the quarterly Columbia Threadneedle Investments LDI Survey, we poll investment bank trading desks on the volumes of quarterly hedging transactions.