Q4, 2022
Key Highlights
The outlook for the global economy is deteriorating. Global growth is decelerating, recession probability is rising.
Global supply chain pressures are easing. Inflation peaking, but core inflation still sticky (labour costs, rents).
Central banks still hawkish, markets seeking for a pivot. Markets will remain volatile until the FED halts raising interest rates in the effort to curb inflation.
Geopolitics tail risk are increasing: Ukraine - Russia, North Korea, Iran, UK, Italy, Brazil, Taiwan.