bullish
TPW Advisory Friday Musings: Firebreak
SUMMARY
- The plate throwing, table tossing, cross asset market action continues to pingpong across the Atlantic as US /EU bank fears continue to burn like wildfires, leading to sharp falls in rates that coupled with weakness in energy prices signal markets are prepping for recession.
- The fear used to be that the Fed would overtighten and force the US economy into recession in order to get inflation down to its 2% target.
- As we wrote in last week’s Musings we think that battle has been fought and won by the forces arguing for a higher target, though we note BofA’s FMS suggests that 65% of those polled disagree with us – only 65%?
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TPW Advisory
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- TPW Advisory Friday Musings: Firebreak25 Mar 2023
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