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After years of disrupting market events, from a global pandemic to supply chain constraints and a level of inflation not seen in some 40 years, where will markets settle in 2023? Managers across BNY Mellon Investment Management outline some of their thoughts about the coming year.
BI-WEEKLY UPDATE
Chief Economist at BNY Mellon Investment Management
Welcome to another edition of Vantage Point and our look ahead to 2023.
At the time of publication, risk assets have been rallying in the hope that inflation may come down quickly and a recession might be avoided in the United States. Inflation does seem to have fallen faster than expected in the past few months, though core remains worryingly high in all the major economies. Our sense is this relief rally may be somewhat premature and that rather more economic slack will have to be created before inflation heads meaningfully back towards target.
The value of investments can fall. Investors may not get back the amount invested.
Investment Managers are appointed by BNY Mellon Investment Management EMEA Limited (BNYMIM EMEA), BNY Mellon Fund Managers Limited (BNYMFM), BNY Mellon Fund Management (Luxembourg) S.A. (BNY MFML) or affiliated fund operating companies to undertake portfolio management activities in relation to contracts for products and services entered into by clients with BNYMIM EMEA, BNY MFML or the BNY Mellon funds.
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