Global markets performed well in July as more good news about inflation and the prospects of a soft landing in the US was well received.

The September outlook lands on your device amid slowing global momentum and continuing economic uncertainty. The oldest and strongest kind of fear is the fear of the unknown and its grim identity in that it can be perpetual.

The baseline forecast is for global growth to slow from 3.5% in 2022 to 3.0% in 2023 and 2.9% percent in 2024. With core inflation still high in many advanced economies, central banks may need to keep monetary policy tighter for longer than is currently priced in markets.