While it hasn’t shown up yet in reported consumer price data, there is convincing evidence across “upstream” indicators – such as commodity prices, port queues and delivery times – that inflation is on the cusp of trending lower. Indeed, freight rates on some routes, such as Shanghai-Los Angeles, have recently halved from their highs.
Consumers need to choose not to spend their generous savings. Jobs markets need to stop tightening and to stabilise – a trend that appears to be emerging. A moderate rise in jobless rates would be an important signal for central banks., which didn’t improve as much as expected, is a reminder that this is a period of heightened uncertainty.
Taking a longer-term view, the brutality of markets this year has unwound significant amounts of valuation risk built up over many years. That’s not to say that further adjustment may not lie ahead – just that a significant amount of the journey should be over.For those lucky enough to have cash out of the market , it’s likely time to consider putting some of that to work.
Shuushhhh not yet......
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Source: FinancialReview - 🏆 2. / 90 Read more »