Since the beginning of the year, the global investment outlook has been developing based on what economists and investors have projected:
- US economic data has begun to clearly show evidence of a slowdown;
- The health of the European economy, although still deteriorating, is showing some signs of being better than many people had expected;
- There seems to be a greater risk to the Japanese economy after the Bank of Japan in effect tightened monetary policy, leading to speculation on a rising yen and government bond yields;
- A rising prospect is seen for the Chinese economy to recover strongly after the rapid reopening of the country; and
- A strong divergence in the economic and investment perspectives of developed countries and emerging markets.
Looking at the United States,…
