A week on from the collapse of Silicon Valley Bank in the US, all eyes are on Europe with the merger of UBS following its takeover of Swiss rival Credit Suisse.
Following a turbulent week in the markets, Graham Wainer (CEO Investment Management, Stonehage Fleming) reflects on financial sector stresses and implications for the investment outlook.
Strength in employment and inflation has caused markets to raise the implied terminal rate while still expecting the Fed to normalize policy – which is different from easing – in 2024.
Despite macroeconomic headwinds, commodities markets may offer attractive return potential this year in light of ongoing supply constraints and China’s reopening.