2023-02-17 Markets

We live in strange times. Among other things, an international media organization can get away with knowingly disseminating false news without apparently losing viewers.
     Something else is strange (I know, I’m repeating myself, but there is not much else that seems relevant): how can hopes for the future path of interest rates fluctuate so wildly in the midst of a very clear message from central bankers? Only the PBOC and the Bank of Japan remain in the easing camp, both for very specific if debatable reasons; everyone else wants inflation out of the way.
     All in all another hesitant week, with emerging markets’ equities (highly sensitive to cyclical moods) bearing the brunt of the action (-1.4% in Euros).
[Cover: The New Yorker]