Macro Insights Weekly - Complacent mood for the final stretch of 2024

After broadly surprising on the upside in the first two-thirds of the year, global markets and economy appear to be set for the final stretch with lingering feel-good sentiments. Key risk: melt-up.
On the economics front, consumption, investment, and trade have held up well so far this year.
Tensions in the Middle-East or China's economic struggles hae not hurt global supply or demand.
Markets, after wobble of late-July, early-August, are back on sound footing.
The complacency about the outlook is evident in market pricing.
Fed may have to reign in melt-up risks by being deliberate and slow in easing policy.