Myriad factors point to a recession within two years but web3.0, NFTs and blockchain will "reconfigure the investment landscape", according to Pictet Asset Management.
Writing in its secular outlook, chief strategist at Pictet AM Luca Paolini warned that falling equity returns as a result of the global economy's expansionary phase approaching its end, tighter financial conditions, a peak in US jobs growth and larger output gaps "all point to a recession within the next two years". Bond markets near the bottom with a recession already priced in While developed market growth is set to stall, Paolini argued that emerging markets would offer "double-digit opportunities", with EM equities forecast to return 10.5% over five years and EM Asia equities exp...
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