Positive equity market developments have been overlooked due to the obsession with inflation, tightening monetary conditions, and rising recession risks.
It is hard not to have inflation and central bank rate rising fatigue given the never-ending barrage of commentary over the past nine months.
Inflation is a scourge that must be tamed to ensure it does not become embedded in expectations. At this stage, central banks are a long way from claiming success, despite embarking on the fastest policy tightening cycle since the early 1990s.
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Jun Bei Liu is the founder and lead portfolio manager at Ten Cap. She formerly worked for Tribeca Investment Partners.
