Markets remain upbeat despite Fed’s reluctance to cut rates

SINGAPORE - Global markets continued to grind higher despite a host of underlying concerns, such as the US Federal Reserve’s reluctance to cut interest rates, frothiness in valuations, rising US debt and uncertain geopolitics.

Despite the

Fed’s insistence on maintaining its key rate

at 5.25 per cent to 5.5 per cent – its highest in over two decades – Wall Street indexes managed to eke out more record highs through the past week.