Sailing on strange seas

Investors had become used to smooth sailing beguiled by, in particular, the US economy remaining resilient, strength across developed world equity markets, and volatility remaining (mostly) subdued. But as we extend our voyage into unknown seas, we will need to maintain a steady hand on the tiller, recalling the old sailing motto that “The good seaman weathers the storm he cannot avoid, and avoids the storm he cannot weather.” So come sail away with me as we use eclectic sailing references to outline our views for the economy and financial markets and chart their course for the remainder of this year and 2024.

Download PDF