Hints and tips:
Related Special Reports
...Mohamed El-Erian, a leading economist, has said he feels “uncomfortable” investing his personal wealth in the stock market and has diversified away from equities as central banks battle to tame inflation...
...While the global economy is able to handle a transitory bump, it is already too fragile to handle a large new economic shock....
...Instead, it will be a slow progression, led by the Fed....
...A solid foundation of secular and structural positions, with a much smaller opportunistic and tactical top....
...Put together, this dynamic will further push the industry trends towards a structure of a handful of very big firms and a larger number of much smaller niche players....
...— a vulnerability exacerbated by geopolitical shocks....
...This is how a portfolio manager framed their purchase of Chinese equities on a recent Bloomberg show....
...And now the data has sent a warning shot....
...Such a view is being heard a lot following the sharp fall in US CPI inflation from a high of 9.1 per cent in June 2022 to its latest November reading of 3.1 per cent....
...Just a year ago, a similar scenario unfolded, with markets pricing in cuts for 2023 that never materialised....
...Permacrisis: A Plan to Fix a Fractured World by Gordon Brown, Mohamed El-Erian and Michael Spence, Simon & Schuster £25, 336 pages Diane Coyle is Professor of Public Policy at the University of Cambridge...
...Last month, Mohamed El-Erian published a book called Permacrisis: A Plan to Fix a Fractured World....
...The argument appears stronger in a world where voters grappling with a cost of living crisis are likely to support a party that leaves more money in their pockets....
...For many of us, a time out is simply a reminder of a punishment we risked as children. For the sports fans among us, however, the concept applies to a much broader range of situations....
...As much as I respect and enjoy Mohamed El-Erian’s columns, he really shouldn’t repeat the trope that China was “once hailed for its repeated economic miracles that lifted hundreds of millions out of poverty...
...The recent consensus on economic growth for the world’s largest economy has been erratic, with forecasts fluctuating between a soft and a hard landing with the occasional mention of crash and no landings...
...Additionally, Mohamed El-Erian, the chief economic adviser at Pimco parent Allianz, was appointed board chair....
...What happened next haunts her son, Mohamed Adel....
...While markets are adjusting fast to higher rates, that of the real economy is at a much earlier phase with now a much bumpier road ahead....
...It is a phenomenon that former UK prime minister Gordon Brown, Nobel laureate Michael Spence, Reid Lidow and I analyse in a new book Permacrisis....
...It propagated a “pain narrative” that many media outlets employed as a benchmark....
...A big-bang stimulus would also increase the risk of corruption....
...These included a 50bp rise for the BoE, a 25bp increase for the ECB and an unchanged rate for the Fed....
...Rarely do we witness such a combination of events within a few days....
...It would undermine household demand at a time when high mortgage costs are already placing a significant burden on households....
International Edition