We face peak market uncertainty in 2022 as rate hikes give way to 2021’s easy liquidy. The Fed will stop expanding the balance sheet by March 2022 and it plans three rate hikes next year. This assumes core inflation falling sharply, whereas we see core inflation staying high even as headline inflation eases next year. […]
Evergrande
China Crypto Ban & Policy Change Hits Evergrande
China’s crypto ban (again) and Chinese policy changes driving the Evergrande crisis are this week’s focus. When the world’s second largest economy bans an asset class and the largest token (bitcoin) only drops ~5%, does that not seem like a source of strength? Yes, the volatility is unpleasant, but that’s why The Dispatch believes appropriate […]