Global recession roars in as central banks tighten

Wednesday, 31 August 2022

It never ceases to amaze me how good Goldman’s market tools are, as well as how useless they are at reading them. Goldman is telling everybody to buy commodities because there is no recession coming yet check out the following.

Global financial conditions are tightish:

But nowhere near tight enough in the US with the Fed to keep hiking:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.