The global economic and investment picture this month is strikingly different from last month. In our article last month “Global and Thai economy in a no-landing scenario”, we warned about rising risks, even as others predicted a “no landing” situation, or an economy that can continue without slowing down or falling into recession.
In March, signs of the negative effects of the sharp upturn in interest rates became clearer. The financial market was highly volatile as worries grew about liquidity in the banking system. Consumer confidence has deteriorated, along with leading economic indicators and lending trends.
It began when US regulators shut down Silicon Valley Bank (SVB) and Signature Bank, with depositors initially refunded the equivalent of $250,000 maximum per account….
