2023-04-21 Markets

Global equities continue their march higher, though with some notable regional exceptions: emerging markets are still under pressure, returning -1.6% during the week in Euro terms.
     While bonds in general did not have a great week, inflation-linked securities did far better than their nominal companions.
     Most indications are for markets expecting just one more hike in interest rates in the US, a couple perhaps in the Euro-zone and who knows how many in the UK.
     The above describes a somewhat contradictory story: either there will be (is?) a significant slowdown or there will not. You can’t have both at the same time.
[Cover: Axios, remains of SpaceX Starship]