While markets have made a strong recovery, the prospect of more rate rises looms.
Whatever the conspiracy theorists tell you, no one plugs a microchip in to your brain at the registration desk at the World Economic Forum in Davos to ensure perfect harmony of thought.
Not for the first time, this is fuelled primarily by hopes that inflation appears to have come off the boil and that the Now, Tangen said, a good deal of the froth had been blown off the markets, but investors should accept that the Fed may well restart rate rises and that a long, slow grind of low returns lies ahead.
“The market has had a couple of months of saying ‘maybe we’re back to being back to normal, don’t worry about it’,” Karniol-Tambour said. “We don’t think that’s right.”
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