Rather than just looking at February’s performance, an analysis of returns since end-2023 provides a glimpse of what to expect after the era of cheap money.
Most of the action in January was in equity markets, except Asia High Yield bonds which stood out for their 2.5% gain despite volatility in other markets.
The withdrawal of market liquidity and rising interest rates have led to continued market volatility, with recovery expectations pushed back due to persistent rate hikes and mixed global economic signals.…
Recent market volatility reflects the shift from the era of low interest rates. The effect of rate hikes, which impacted financial markets initially, are flowing through to the real economy.
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