Third Quarter 2023 Quarterly Macro Themes

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September 15, 2023

Quarterly Macro Themes, a quarterly publication by our Macroeconomic and Investment Research Group, explores critical and timely areas of research and updates our baseline views on the economy.

Any pickup in economic momentum is incompatible with the Fed’s inflation fight.
As post-pandemic tailwinds begin to fade, the economy should slow by the end of the year.
Highly liquid industries are generally in a better position to survive a credit crunch.
Bonds typically outperform stocks once the Fed pauses.
An economic slowdown in China will spill over to the rest of the world.

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