LC Investment Playbook Weekly Update - 18 August 2023

‍Charts of the week

• Valuations expensive across the board

• Divergent Recession Expectations Across Markets

• Yields are Still at Elevated Levels

• Risks of Spreads Widening

• TINA (There Is No Alternative) era is over

• Unsustainable Divergences

• Are higher yields good for stocks? ‍

‍LC Views

• A summary of our team's views on Rates, Credit, Equities, Currencies, Commodities and Real Estate.