Call us daredevils, but we think the markets may have got it wrong as far as interest rate expectations are concerned. Call us daredevils... The new year started with the global economy’s same old problems: high geopolitical uncertainty, the still-unfolding impact of aggressive monetary tightening, fiscal policy in many jurisdictions gradually becoming more restrictive, and a long list of structural transitions. We're still waiting for any kind of landing for the US economy, just like last year. And we're still watching out for any significant improvement in China and the eurozone. And despite the disinflationary ... (full story)