The global economy continues to display remarkable resilience, with the US economy full steam ahead so far in 2024.
The Goldilocks environment began in the fourth quarter of 2023 following the Fed's dovish pivot - lowering bond yields and driving a risk-on rally. Inflation pressures have moderated significantly globally, prompting markets to price in a soft-landing scenario and an aggressive seven rate cuts from developed central banks at the beginning of the year. JPMorgan CEO Jamie Dimon 'cautious' on US soft landing Our view was this was overextended and that markets were being complacent about inflation inflecting higher – with ample room for yields to retrace higher. We may now have ente...
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