The past month started on a sober 😥 note for the world economy. China continued to show signs of slowdown, most visible in its property market 🏠 and on the consumer side, which was both a collateral damage of heavier regulations and covid uptick.
👉This trend took down emerging markets, and commodities with it. Dollar💸 appreciated further until the Fed speech at Jackson Hole re-iterated what we know too well by now: *interest rate hikes are a long time off*. Risky assets jumped 🦘on the news, and we all lived the rest of the month happily ever after💕.
👉 The focus has turned on tech-supercharged growth again📈, and the formidable bounce in crypto and their NFT 💎part is a case in point. Our view is that global returns will inevitably trade lower, and any opportunity to add yields on volatility spikes should seriously be considered.
Opportunistic that is !
360 Advisory – Markets