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As investors bade goodbye to 2022 and look to 2023, here are some key questions to consider:
- Can Europe, which the IMF considers to be in recession, maintain its leadership role?
- How will China's economy behave in light of it reopening initiatives? Global investors can't get their Fed policy call right without getting the reopening trade call right/
- Will the US enter into recession? The stock and bond markets are in disagreement. Stocks are expecting a soft landing, while bond yields have peaked and discounting substantial economic weakness.