Why does the Fed and #39;s rate cut matter for global markets?

* BNP Paribas: 'The US election will have a major influence as different fiscal policies complicate the rate cut cycle' Barclays:
* 'The equity market is always jittery around the first cut as investors wonder why central banks are cutting rates'
* The US dollar strengthened after the Fed and #39;s first rate cut in three of the past four cycles, according to JP Morgan

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