As of Aug. 2, global stock markets had recorded their biggest gains this year since the 2009 financial crisis. The MSCI World Index is up 16.2% so far this year, compared with a gain of 16.9% in the same period in 2009 (nearly 30% for the year), as investors weighed in on slowing global inflation and hopes of more stimulus from China And growing optimism that the Fed is ending its rate hike cycle.