The stress for investors is not yet over after stock markets cleared out the “crap” that built up after the outbreak of Covid-19, with a long period of drab returns still lying ahead, the chief executive of Norway’s sovereign wealth fund has warned.
US inflation could be poised to reaccelerate before this summer, in part because of the reopening of China, Nicolai Tangen said in an interview with the Financial Times.
A new cycle of US interest rate rises is “not that unlikely”, Tangen said, and “not in anybody’s estimates”. Investors are expecting that the Federal Reserve will raise its main interest rate to 4.9 per cent this spring, from a range of 4.25 to 4.5 per cent currently, according to trading in federal funds futures.
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