Global perspectives from
our Principal Advisers

The financial system has taken a small but noticeable exhale, most notably in the U.S. with equities and bonds rebounding from their June lows. Some are calling this a pivot party, with the prospect of softening inflation data and, therefore, interest rate expectations placing a

Recent financial market developments have many investors understandably nervous. Tackling price inflation through higher interest rates has become a global phenomenon. Tighter than expected financial conditions indicate a meaningful economic slowdown, and recent equity market weakness reflects this.

Last Tuesday, the RBA lifted its cash rate by +0.50% to 0.85%, the biggest rate hike in 22 years and the first back-to-back rate hike since May 2010. It’s clear that ultra-accommodative policy settings (low rates) are no longer needed as consumer spending and record

The past few weeks have been challenging for investors as central banks embarked on increasing policy rates in the face of persistent inflation. The MSCI Equity World Index has now declined more than 16.6% year to date (YTD), whilst the Global Aggregate Bond Index has