In focus

CIO Outlook: Why it’s too soon to add to equities

2022 has been a difficult year for investors, with few places to hide. Global equities fell 25% in the first nine months of the year while global bond markets declined 20% (both in USD terms).

Inflation has been the key theme of the year as it has become clear that rising prices are not simply a reflection of “transitory” factors. In response, central banks have signaled they will raise interest rates to levels that are likely to cause recessions in the US and other developed economies.

Our CIO shares his thoughts on what this means for markets in the fourth quarter and beyond.

The opinions contained herein are those of the author and do not necessarily represent the house view. This document is intended to be for information purposes only. The material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The material is not intended to provide, and should not be relied on for, accounting, legal or tax advice, or investment recommendations. Information herein is believed to be reliable but Cazenove Capital does not warrant its completeness or accuracy. No responsibility can be accepted for errors of fact or opinion. This does not exclude or restrict any duty or liability that Cazenove Capital has to its customers under the Financial Services and Markets Act 2000 (as amended from time to time) or any other regulatory system. Cazenove Capital is part of the Schroder Group and a trading name of Schroder & Co. Registered Office at 1 London Wall Place, London EC2Y 5AU. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. For your security, communications may be taped and monitored. 

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James Brennan

James Brennan

Portfolio Director