FTDS - Getting To The Other Side Of This Economic Shoulder Season

• The rhythm of the markets has gradually, but permanently, changed over the last 40 years.
• Despite the (relatively) positive trend in reopening sectors of the economy, the labor market is showing signs of slowing.
• For now, inflation is the “singular mandate” of major central banks, but over the next few months, we would anticipate that the employment side of the Fed’s mandate will re-enter the equation as companies are increasingly freezing hiring, with a number of them executing layoffs.

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