Summary of the economic scenarios to be discussed at the Portfolio Construction Forum August 2023
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During the last few weeks, the prospect of rising interest rate expectations continued to grip markets, as the soft landing/rapid disinflation thesis was tested.
Uncertainty stalked markets last week amidst a raft of rate hikes, but the focus on inflation shifted from the US – where the news was ostensibly quite good – towards Europe, where inflation pressures continue unabated.