Why Is Lower Growth Not Leading To Weaker Markets?
(4 min read)
In our last note, we outlined a core view on why the market should once again be moving towards pricing in a sub-trend growth scenario. Recent market price action and data are validating this view, but despite repricing, credit risk premia and implied volatility remain at very low levels. Now in this note, we discuss what could be inhibiting the conversion of slower growth into higher risk premium...
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