Barclays recession Barclays projects recession in 2023, sees cash as attractive safe-haven
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
In its 2023 outlook report, the British bank warned that economic activity next year could be the weakest the world has seen in the last 40 years as they expected global growth of only 1.7%. The bank sees the European economy shrinking by 0.8% and the U.S. declining by 0.1% in 2023. Although the global economy is expected to slow, the economists warned investors that central banks will continue to raise interest rates to bring inflation pressures down. The bank sees the U.S. Fed Funds rate pushing above 4.5% next year. However, the economists also noted that instead of trying to figure out how far the Federal Reserve will take interest rates, investors should pay more attention to the duration.
"Central banks have signaled that hikes will pause early next year, but a pause is not a pivot. With inflation unlikely to fall quickly enough, in our view, 2023 could be the first year in decades when monetary policy in the U.S. and Europe will be restrictive even with economies in recession. That sets the stage for a very sluggish recovery in 2024." "Bonds have massively underperformed equities in 2022, and we now see limited downside in longer U.S. fixed income.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Calgary International Auto and Truck Show cancelled for 2023Organizers are citing global supply chain issues that will make it difficult for manufacturers, dealers and distributors to participate.
Read more »
Calgary International Auto and Truck Show cancelled for 2023Organizers are citing global supply chain issues that will make it difficult for manufacturers, dealers and distributors to participate.
Read more »
Platinum fundamentals starting to shift as supply deficit forecasted for 2023 - WPICKitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
Read more »
Looking for tax-loss season bargains for 2023 and beyond: Berman - BNN BloombergLarry Berman takes a bigger picture look at where the bargains might be for longer-term growth investors and what he is looking to accumulate into the next period of weakness for global equities.
Read more »
Cosmos has these expansion plans in place for 2023, but does ATOM approveATOM could witness significant demand from DEXes in the future ATOM traders could watch out for an upcoming bullish trend The Cosmos blockchain maintained steady development in line with its long-term goal. The latest update from Informal Systems, one of the developers on the Cosmos network, reaffirmed its commitment towards development. Furthermore, it highlighted some […]
Read more »
Looking for tax-loss season bargains for 2023 and beyond: Berman - BNN BloombergLarry Berman takes a bigger picture look at where the bargains might be for longer-term growth investors and what he is looking to accumulate into the next period of weakness for global equities.
Read more »