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The increasingly hawkish US Fed has triggered a “reverse currency war” as central banks tighten their stance more than would otherwise be necessary if inflationary pressures were less universal.
The US housing market is adjusting to the new reality of higher-for-longer interest rates.Interest rates are rising rapidly – the Fed delivered a third consecutive 75bp hike during the September FOMC meeting – and unlikely to decrease much in 2023 as the FOMC will be keen to restore its inflation-fighting credibility.
2022 will be a record year for container shipping companies. We expect the sector’s revenue to jump by +19% y/y and its operating cash flow to grow by +8% y/y. While freight rates have fallen -32% year-to-date, they are still well above the pre-pandemic average.