Easy money propels stocks to new highs

Interest-rate cuts in the US and renewed quantitative easing in Europe have driven rally in global equities, driving stocks ever higher.

Wave of money © Getty Images

It is impossible to overstate the role of monetary support in driving this year's stockmarket gains
(Image credit: Wave of money © Getty Images)

Washington has finally agreed to "stop punching itself in the face", says Bloomberg's David Fickling. Markets cheered at the end of last week on the announcement of the long-awaited "phase one" trade deal between America and China. The MSCI All-World index hit a new all-time high on Monday on the resulting euphoria, with the Eurostoxx 600 following suit for the first time in more than four years.

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Markets editor

Alex is an investment writer who has been contributing to MoneyWeek since 2015. He has been the magazine’s markets editor since 2019. 

Alex has a passion for demystifying the often arcane world of finance for a general readership. While financial media tends to focus compulsively on the latest trend, the best opportunities can lie forgotten elsewhere. 

He is especially interested in European equities – where his fluent French helps him to cover the continent’s largest bourse – and emerging markets, where his experience living in Beijing, and conversational Chinese, prove useful. 

Hailing from Leeds, he studied Philosophy, Politics and Economics at the University of Oxford. He also holds a Master of Public Health from the University of Manchester.