An electronic stock board shows Japan’s Nikkei 225 index at a securities firm on January 24 in Tokyo. In just a few months, the market narrative has shifted from one of rising inflation and collapsing growth to one of declining inflation and improving growth. Photo: AP
Opinion
Opinion
Macroscope
Forget ‘soft landing’: Global market rally is sowing the seeds of its own destruction
- The current surge in market sentiment is driven by conflicting and irreconcilable forces – an improving outlook will spur inflation, which will lead central banks to raise, rather than lower, interest rates
An electronic stock board shows Japan’s Nikkei 225 index at a securities firm on January 24 in Tokyo. In just a few months, the market narrative has shifted from one of rising inflation and collapsing growth to one of declining inflation and improving growth. Photo: AP
