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Questionable Positives

May 17, 2022

9:04 am

• Equities rebound as bond yields dip • Ordinarily, historical precedents suggest, the setback in equities would be followed by a positive year but… • Inflation is still a major concern, and central banks have much to do • Higher oil prices clearly helping GCC equity markets – Aramco becomes the world’s most valuable company…

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Inflationary Concerns

May 12, 2022

7:27 am

Just last month, we wrote about attention moving from the ravages of the Russia-Ukraine war to economic growth concerns. We have moved further along the path and the debate is now centred around inflation higher for longer vs demand destruction and a global industrial recession. (We do think that we are headed towards a recession…

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They Don’t Know What They are Doing

May 10, 2022

11:55 am

• Central Bank meetings show a wide diversity of views within each individual bank • Relative to expected levels of inflation monetary policy remains behind the curve • Rising recession risks has credit wobbling • A further stage of equity market sell off may follow the credit markets • In China it doesn’t get any…

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Plenty of Reasons to be Concerned

May 5, 2022

6:17 am

• US equity sell-off has gained momentum • Central bankers, meanwhile, are accelerating their monetary tightening • Growth stocks are at the epicentre of the current sell-off with still more downside risks • Latin America is ahead of the rest of the world in its tightening cycle – a positive for the local asset markets…

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