A powerful double whammy of an atmospheric river and bomb cyclone is drenching California again Wednesday, dropping several inches of rain on a region that has struggled to wring out from an onslaught of winter storms.
As 2023 approaches, a recession seems inevitable. Central banks have stopped talking about a ‘soft landing' and the UK seems to be the first major market to accept that it has already entered a downturn, Elliot Gulliver-Needham writes.
Even as hopes grow that the developed world might be nearing a peak in the interest rate hike cycle, stagnating growth will pose challenges to asset allocators as they position portfolios for 2023.