Horizon Q3 │2022

Economic woes increasingly dominate inflation fears

Prof Dr Bernd Meyer and team provide an outlook for the third quarter of 2022 in the current Horizon publication.

Key messages of the capital market outlook:

Recession fears: Economic woes increasingly dominate inflation fears. Markets are increasingly pricing in a recession, while inflation expectations are falling.

Sentiments low: Sceptical sentiment, low positioning and more attractive valuations suggest a bottoming out. But a recession, lower profts and the withdrawal of liquidity are still looming. Final sell-off therefore not ruled out.

Surprise effect: With easing supply constraints, declining infation and less restrictive tones from central banks overly pessimistic investors may be surprised.

In the Insights interview we discuss which developments are making this year so complicated for investors.

Prof. Dr. Bernd Meyer
Chief Investment Strategist and Head of Multi Asset
Phone +49 69 91 30 90-225
Ulrich Urbahn
Head of Multi Asset Strategy & Research

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