JP Morgan AM's Hugh Gimber: It is too soon to celebrate a soft landing

'Too good to be true'

clock • 4 min read

Economies have so far coped remarkably well with higher rates.

Coupled with signs that pandemic-related inflation is easing, the market narrative has shifted towards the prospect of a soft landing. Bond markets are excited about rate cuts, spreads are at or below historical averages in most areas of credit, and equity analysts are forecasting double-digit earnings growth for 2024. 'What is different this time?': Experts debate a delayed 'year of the bond' Were this to play out, it would represent an extraordinary success for central banks. But in my mind, such a benign outcome still feels a little too good to be true.   Interest rates st...

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