Episode
Diverging Paths, Converging Risks
- Podcast
- Macro Pulse
- Published
- Dec 4, 2025
- Duration seconds
- 238
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Summary
Global financial markets have been navigating a more unsettled backdrop in recent weeks, with choppier risk sentiment and shifting rate expectations reshaping the macro narrative. US assets have been particularly sensitive to signs of cooling labour-market momentum, while rising real yields in Japan and renewed fiscal tightening in the UK have added further cross-currents. In our charts this week we home in on: The global policy rate consensus The US labour market Euro area inflation Real rates in Japan UK government debt South Korea's semiconductor trade