It’s been a rather painful week for markets so far, as investors mull the risks of a recession amid interest rate hikes by major central banks around the world last week.
In the US, the broad-based S&P 500, for one, registered a new closing low for 2022, while the Dow slipped into a bear market earlier this week.
Away from the US, the British Sterling hit a record low earlier this week, after the new UK government announced its so-called ‘mini-budget’ to spur the economy, risking further price increases, and higher interest rates.
So where are markets in the US likely to go in the near term? Does the UK government know where it wants to go with the mini-budget, and where will the pound move going forward?
On Market View, Prime Time’s Finance Presenter Chua Tian Tian posed these questions to Robert Hoffman, Head of Investment Counsellors, South Asia, Citi Private Bank to find out.
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