Bassanese Bites: Burns or Volker? – August 01 2022
Week in review
Global equities saw fit to look on the bright side again last week, rallying in the face of weakening US economic data and another jumbo-sized 0.75% Fed hike. Indeed, the US tipped into a technical recession last week with a second successive negative quarterly GDP growth outcome – though we need to wait for broader weakness in employment, spending and industrial production before the economic boffins at the National Bureau of Economic Research (NBER) proclaim an official recession.