Market Insight - December 2021

Everything seemed to be going so well in the first weeks of November, at least on the economic front. Inflation was still worryingly high in many countries but the economic figures and leading economic indicators were generally pointing towards a strong expansion in 2022.

In this regard, nobody could deny that the rise in economic surprises, particularly in the US, might justify hopes about satisfactory – but evidently more moderate – growth in earnings next year.

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