Last week marked the beginning of the end of one of the most rapid interest rate hiking cycles in history. There has been no historical precedent for the events that followed Covid-19 and the ensuing response, so there is no relative example for what may continue to happen going forward.

Opportunities in China might be the first place to look for emerging market (EM) trade opportunities. But South Korea shouldn’t be overlooked.

Rate cut expectations pushed more investors into investment-grade corporate bonds the past quarter, giving the asset class their best performance in nearly a year.

Following a scorching rally last week, the WisdomTree China ex-State-Owned Enterprises Fund (CXSE A-) tacked on another 1.84% on volume that was about 7x the daily average on Monday. Making that gain all the more impressive was the fact that the MSCI China Index closed slightly lower on the day.

The Nasdaq-100 Index (NDX) is higher by 2.51% over the past month. Clearly, growth stocks benefited from the Federal Reserve lowering interest rates for the first time in four years. That could indicate the start of a rebound for various artificial intelligence (AI) equities.

Talk about closing out the quarter with a bang. Stocks rode a sizzling summer rally punctuated by record highs in all three major averages and record assets in ETFs to boot. Total assets across the U.S. ETF market topped $10 trillion for the first time ever, with global assets topping $14 trillion.