In 2022 inflation awoke from its long slumber and Central Bankers were caught napping. They then responded with the fastest set of interest rate rises in history. Fortunately, there are early signs of success, with inflation expectations remaining subdued.
OECD investment in China has plummeted. China may need to re-evaluate their geopolitical isolation.
Yields have nearly doubled in many fixed income markets. Equity valuations now trade much closer to long terms averages, albeit the US remains relatively expensive.