Traders at work on the floor of the New York Stock Exchange on May 24, amid investor fears of a severe economic slowdown.  Photo: EPA-EFE
Traders at work on the floor of the New York Stock Exchange on May 24, amid investor fears of a severe economic slowdown. Photo: EPA-EFE
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

With China focused on zero Covid and the Fed in ultra-hawkish mode, who will blink first?

  • Markets may be smarting from the Ukraine war, but it’s the self-inflicted wounds of China’s zero-Covid policy and the Fed’s monetary tightening that really hurt
  • The only hope is for China’s outbreak and US inflation to be brought under control enough to prevent more drastic measures, but this is far from guaranteed

Traders at work on the floor of the New York Stock Exchange on May 24, amid investor fears of a severe economic slowdown.  Photo: EPA-EFE
Traders at work on the floor of the New York Stock Exchange on May 24, amid investor fears of a severe economic slowdown. Photo: EPA-EFE
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