Climbing the wall of worry
In this latest edition of our monthly report update:
- These are anxious times ;
- Financial markets are a discounting machine ;
- Glass half full or half empty? ;
- Inflation continues to slow down;
- Stress among US regional banks is damping US economy;
- The World Equity Index is up by 1.6%;
- Bonds in US$ fared better than bonds in EUR; and
- Currencies and precious metals.
The economic environment continues to slow down (except in China) and inflation is not yet « under control ». On the other hand, market positioning remains extremely cautious and offers good support.
- Precious metals, listed real estate (REIT); and
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