In a supply-constrained world, reducing asset prices may be the only way for central banks to bring demand and inflation lower.
China boosts fiscal spending to support its growth target in 2022 amid lockdowns in Shanghai and other cities.
Companies are buying raw and intermediate goods at a record pace, which will influence economic growth in 2022.
The Fed’s policy changes will have implications for the U.S. Treasury market and other financial assets.
We believe the Fed is likely behind the curve in containing inflation with ultra-low interest rates.
Global financial markets might be pricing in a “living with the virus” environment and are adjusting to a lower growth path.