We are moving into the 5th year of the global experiment which started in 2020 with the unprecedent lockdowns the massive government support to citizens the huge increase of global liquidity and central banks slashing interest rates to zero and in many cases deeply in negative territory.
Then the 2021-2022 « unexpected » spike in inflation triggered one of the
Will the central banks achieve their goal in bringing inflation down and keeping the job market and the economies intact, as the current market pricing suggests ?? (the good, soft landing scenario).
Or will this abrupt « morphine » removal finally result in a sudden collapse
Unfortunately we cannot forecast the end result of this experiment.
Our overall investment stance remains therefore defensive.
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