Markets Setup for Rollercoaster Ride in 2023
FEB 03, 2023 • 9 Min Read
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Key Takeaways
- Recent increases in global liquidity have been a driving factor in this year’s market rally.
- There is evidence supporting potential trend continuation in the coming weeks, as there are still multiple headwinds that could drag on markets as we move closer to late Q1/Q2.
- Funding liquidity will remain a key risk throughout the year, especially for high-growth industries (like crypto). We’ve noted that the move to a more expansionary global liquidity environment is the most important catalyst for a renewed and sustainable bull run in our view.
- The global liquidity cycle showed signs of bottoming back in Q4, which coincided with the October lows.
- The effects of this reversal on financial markets usually lags anywhere from 6-18 months, which is why we’re more bullish on 2H 2023 and 2024-2025.
See our Markets Year Ahead report for more detail on the b
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