[Quick Take] Mid-Year House Views: Understanding Current Market Conditions and Implications

“When it comes to the financial markets, we never know where we’re going, but we ought to know where we are” – Howard Marks

After all, who would have thought that we would see the following unfold in just the first half of 2023.

1. A slew of US regional bank failures (First Republic, Silicon Valley Bank and Signature Bank)
2. Rescue deal for the prestigious Credit Suisse (a global systemically important bank) by UBS
3. Fears over the US debt ceiling crisis causing gold prices to spike at all time high and US credit default swaps rising to 175bps from 15bps
4. China underperforming expectations despite reversal of its covid-zero policy
5. Germany entering a recession

Note that this piece aims to provide a high-level view on market conditions (i.e., more breadth than depth). This piece will be more narrative driven, less quantitative than usual and aims to keep things simple and cut through unnecessary noise.

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Read the full post: https://www.skeptivest.com/blog/quick-take-mid-...

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