Magellan chief executive David George expects US corporate earnings will come under pressure in the higher interest rate and inflationary environment, and warned of more challenging market conditions and volatility ahead.
“It’s not clear how sticky things will be because there are new factors that are coming in, even as central banks are working on some of the old problems.”The comments come as sticky inflation andreinforce expectations that the US Federal Reserve will keep raising interest rates. “The RBA deals with a different set of circumstances, in particular, how the pass-through works towards households and the mortgage market structure, which is a lot more floating rate,” he said.
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