But reality has yet to set in for equity valuations, especially in the US.

Ructions in the banking sector don’t appear to be the first tremors of a systemic financial crisis, but rather a delayed, jolting reaction to the steepest rate increases in 40 years

The Budget contained some useful measures to address key challenges facing the UK economy, but doesn’t fundamentally change the tough outlook.

An American recession is now more likely than not. A broad decline in leading indicators steers us to be yet more defensive, but there are both bullish and bearish arguments to be made.

Rathbones’ co-chief investment officer Edward Smith explains how we see reasons for optimism, but remain vigilant.

Still no clear sign of recession in the months ahead, but no catalyst for fears to subside yet either.

Rising interest rates, slowing GDP growth and war have rocked markets. Stock prices say recession is locked in; we’re not so sure. It’s a significant risk, but there’s more resilience in today’s economy than many investors think. 

Risks of higher inflation and slower growth have gone up, and so too have the number and degree of uncertainties around the investment implications.