In the main markets, we have a pretty cautious outlook on fixed income valuations. In the US, we expect the Federal Reserve to raise another couple of times and we anticipate a 5% breach in 10-year yields toward the latter part of the year.
Overall, the market has already priced in future rate cuts, so the risk lies in the economy surprising on the upside.
In Europe, We expect the European Central Bank to tighten two to three more times this year. Considering the numbers coming out in terms of consumer confidence and business sentiment, the short...
