INTRODUCTION As inflation continues to trend lower, most central banks appear to be done hiking interest rates. The European Central Bank...
Global growth has been losing momentum and is expected to continue slowing toward or below trend. Risks remain of a Russian gas cutoff, which would have significant negative implications for global growth. Without this threat, consumer strength and solid corporate fundamentals would help put a floor on growth this year. However, recession concerns have been building due to tighter financial conditions, elevated food and energy prices and ongoing supply issues.
Turning to the US, we believe the recent payroll report should lock in the Federal Reserve for another 75-basis-point hike in September, and we foresee the federal funds rate ending 2022 at around 4.0%. Strong jobs data suggests a longer runway before downturn, but this could also keep the Fed in tightening mode.
The information in this article is provided for general information purposes only and does not take into account the investment objectives, financial situation or needs of any person. Investors Mutual Limited (AFSL 229988) is the issuer and Responsible Entity of the Loomis Sayles Global Equity Fund (‘Fund’). Loomis Sayles & Company, L.P. is the Investment Manager. This information should not be relied upon in determining whether to invest in the Fund and is not a recommendation to buy, sell or hold any financial product, security or other instrument. In deciding whether to acquire or continue to hold an investment in the Fund, an investor should consider the Fund’s Product Disclosure Statement and Target Market Determination, available on the website www.loomissayles.com.au or by contacting us on 1300 157 862. Past performance is not a reliable indicator of future performance. Investments in the Fund are not a deposit with, or other liability of, Investors Mutual Limited and are subject to investment risk, including possible delays in repayment and loss of income and principal invested. Investors Mutual Limited does not guarantee the performance of the Fund or any particular rate of return.
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