Wealth management
November 27, 2023
Lower inflation around the globe should allow central banks to cut rates, while U.S. equities may reach a record level of 5000 on the S&P by year’s end. Image: Bank of America
By Luxury Roundtable Intelligence
Few consumers have experienced the current macro uncertainty in their lifetime, and investors have underappreciated and underpriced its impact. Indeed, the recession that many expected in 2023 never arrived.
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","iv":"f024232b84fc72165e1b1197cf58c6c4","s":"b2a3568063ec1472"}
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