Fynsa
In 2022, private equity investments continued to dominate, although with a slight decrease compared to 2021.
The divergence between equities and interest rates cannot continue much longer, and it should reverse.
As usual, I wanted to summarize our main projections for 2023, at the risk of being overcharged in twelve months' time.
As the macroeconomic environment becomes much more challenging in the quarters ahead, it seems unlikely that we will receive further support from the corporate earnings side, leaving the market totally dependent on a potential "Policy Pivot".
The important question that arises with respect to the Central Bank's policy is how long monetary tightening will be on hold.
There is still a great deal of uncertainty about how far rates could go in the current cycle.
You may say I am a dreamer: economic policies work and eventually we will return to equilibrium. It's not free, though, like nothing else in life.
