To pivot, or not to pivot, that is the question for the Fed

This monthly commentary gives a roundup of global markets and trends.

In this edition:  

• Stock markets continue to fluctuate, led by changing expectations for future interest rates
• Traders are already predicting that central banks will ‘pivot’ away from their plans to continue raising interest rates
• The Fed must assess how higher interest rates feed through to the economy
• Despite higher energy prices, European company earnings still rose

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