Bumpy ride as economies shift to new paradigm
In our latest article we discuss how economic growth this year has been stronger than expected in most regions. There should be a more significant slowing in the next several months.
The period of extremely strong labour markets that assisted the post-pandemic recovery is coming to an end.
Consumption will continue to be gradually constricted by falling savings, weakening jobs markets, lower wages growth and moderating but stubbornly high living costs.
Global economic conditions are likely to be more stable through next year helped by healthy consumer and corporate balance sheets and solid, if cooler, jobs markets.
We maintain our broadly neutral stance to growth assets. We have gradually raised cash levels during the year as valuations became more challenging and economic growth began to roll. Heightened volatility can be expected in the remainder of the year.
I hope you find the article interesting and helpful in furthering your investment goals.
Please let me know if you would like to discuss.
This article?is provided for general information purposes only and should not be construed as personal financial advice.
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