Chaos for US office real estate but healthcare remains unscathed
Amidst looming crisis, US office real estate shifts toward resilient growth in the flourishing medical sector.
Amidst looming crisis, US office real estate shifts toward resilient growth in the flourishing medical sector.
Wall Street watchers appear to have made their case: 2023’s outlook for the US economy and the stock market is far from bright.
The inverted yield curve is leading investors to question whether the next recession will be longer and deeper than before.
The European Central Bank doubled its key interest rate to the highest level in more than a decade just as the likelihood of a recession mounts.
None of the US assets tracked by Goldman are fully pricing in a recession, with equities factoring in the lowest odds of a “severe hawkish scenario,” the strategists wrote.
In absolute terms, investors are most bullish on cash, health care, energy and staples, and most bearish on equities, UK and Eurozone stocks, as well as bonds.
The big worry for the rest of the world is that the Fed’s campaign to tame runaway inflation by jacking up US interest rates – a key driver of dollar strength – is nowhere near done yet.
The basic pattern of markets for the past two decades has been reversed. Investors grew used to it, but it no longer works.
The Fed had to inflict a lot of pain in the ’80s to convince markets it was serious.
Why are markets so sensitive to data that would normally be regarded as merely an imprecise guide to the economy, to be taken in the context of other reports?