
Monthly Coffee Break


Economic strength and inflation more resilient than expected

Financial stability and price stability

The return of decorrelation between risky assets and rates

A sense of relief

Better outlook increasingly reflected in markets

Rallying global equities driven by growth stocks

A message in a bottle …

Hawkish Fed weighed on market sentiment

Signs of weakening inflation

Temperatures rising, inflation cooling

Is this the beginning of a roller coaster ride?

Stock markets continued their recovery

First true relief of the year

The next stage

Don’t forget the DIVA

Fundamental support for our constructive view

Mixed picture

Recession on the horizon

Relief rally heading into year-end

Race to the bottom

Recession on the horizon

UK gilts in the eye of the storm

Waiting for pivot
