The Pendulum Between Inflation and Growth Fears Swung from One Extreme to the Other

Markets Since the beginning of the year up until mid-June, investors turned a blind eye to growth risks, focusing solely on inflation developments and changing reaction functions of central banks (normalization/tightening). This resulted in an unseen core bond sell-off. Ever since even the SNB hiked its policy rate, attention turned to economic consequences of these […]

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