This risk case is well and truly on my radar. I still see it as a risk case because so much central bank tightening is yet to impact, asset prices are falling, margins will be squeezed and costs are already rebounding via commodities. But, as said repeatedly, the further equity and credit rallies, the more this chance rises.
The excellent Charlie McElligott at Nomura.
Kind of a “cheat” note ahead of a busy week of meetings and dinners—reiterating / re-pasting parts of last week’s key thematics, but also with some fresh inputs…
