My main concern for 2025 remains inflation and the prospect of a continued bearish steepener, led by fewer (or no) rate cuts than expected and ongoing increase in the term premium. We can see that the curve has now un-inverted as short rates have come down and long rates have…
China’s economic miracle is ending, leaving President Xi Jinping with a challenge none of his predecessors faced: how to govern after the boom. trib.al/ELnwT3e
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