Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
Summary: Today we discuss the possibility of stagflation in the years to come as our Chief Investment Officer Steen Jacobsen laid out the arguments for why such a scenario could play out. In daily grind of financial markets we discuss tomorrow's US July CPI report which is expecting to see another month of core CPI at 0.2% m/m. If US inflation continues to ease it could mark the peak in the Fed Funds Rate and accelerate bets on rate cuts next year. We also discuss the troubles at WeWork, oil markets, Novo Nordisk's 17% rally yesterday on good Wegocy trial data on heart risk, and the clarification from the Italian government on the new extra bank tax. On today's podcast are Peter Garnry on equities and Ole S. Hansen on commodities.
Listen to today’s podcast - slides are available via the link.
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