Read the weekly market letter here:
Carlsquare weekly market letter
- The US and Chinese economies are slowing down very rapidly. This will at least temporarily stop inflation. But in the US, interest rates are rising again, reaching 5%. When that happens, something will break in the system.
- The Fed holds its annual meeting in Jackson Hole on Friday. As the rumour mill is quiet, we don’t expect any significant changes in policy for the time being.
- The stock market is on course for a small rally, but this will ultimately be short-lived. We are more optimistic about a later bull run in the market.
In China, market interest is focused on the high level of debt, making it harder for the government to increase debt to ride out slowing growth.
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