Veteran investor David Roche 'optimistic' U.S. rate cuts are coming

Let's talk about the US because there are a lot of Fed speakers out this week, but we're yet to have that first rate cut. What are you, what's your assessment now given all the latest data points and some of the the more hawkish commentary we're still getting from the Fed? Well, look, my view is this, I think the Fed speak at the moment is rather like Robert Graves. I think it's Robert Graves, the definition of hell, which is words repeated endlessly until they all but lose their meaning. So I think that's what we're being subjected to. My own view is I look at every single measure of inflation and I can see it slowly and I stress slowly declining towards a .2% month on month rate, which is the magic secret to achieving 2% annualized rate. And I am not going to back off the position that I think, although the last mile, to quote Isabel Schnabel, who I think is the intellectual luminary of the ECB, the last man is a tough mile where you run a marathon. It's nevertheless getting run. So I think we will see rate cuts. I think we will see the Fed bringing down inflation, even though the economy is relatively robust, certainly on the global scale, very robust. So I remain pretty optimistic that we will get the rate cuts. And if we don't, then of course the markets will, will, will go down. No doubt about that. It's rate cuts which are everything to be marked. David, you preempted my final question. I'm sure you knew it was coming. The markets in the round at the moment, given everything you've said and we've had a holistic to a deep drill from you on so many topics. Where do you think equity markets, I should say, rather than markets are placed at the moment? Well, the one thing I would say about equity markets is if we're going to be talking about her holistic is they're not holistic with what's going on in the real world around you. As you can see from looking at China, looking at what's going on in Europe, indeed looking at the the Trump threat overhanging the United States like an axe over a bloodied neck. You would actually say, well, surely some markets someplace should be very connecting with this. Well, holistically means connecting And the my comment on the equity markets is the only thing they're connected to is themselves with a vague balance towards towards the Fed and interest rates. But that's the end of the story. Intellectually, they don't stretch to what the real world is on about at all, which is singularly nefarious.

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