So we just got back from the IMF meetings in Washington, DC. One of the big takeaways from the IMF meetings was this very doom-and-gloom type of scenario—this idea that avoiding a global recession within the first half of next year seems less and less likely. The only silver lining seems to be that people expect the Fed to stop hiking rates, inflation to roll over, in the first half of the year. And that could potentially create a catalyst for strong positive returns. Since fixed-income yields have risen so much since the Fed started hiking rates, it provides a much more attractive entry point for the asset class.
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