Quarterly Outlook
Q3 Macro Outlook: Less chaos, and hopefully a bit more clarity
John J. Hardy
Global Head of Macro Strategy
Singapore Sales Trader
Various monetary policies issued by the central banks have inflated asset prices but have had little impact on consumer goods and services, perhaps even on tax. We think it makes sense to keep some ammunition in reserve to take advantage of opportunities. If the market is nearing the end of the rate hike cycle, yields are going to start looking more attractive given the expected leveling off in yield increases. With higher interest rates, fixed income is likely to produce more positive returns.
Let’s take a quick look at the various central banks’ upcoming events and recent actions:
Most traded bonds on Saxo – Offline:
Q3 Macro Outlook: Less chaos, and hopefully a bit more clarity