LC Investment Playbook Weekly Update - 2 December 2022

Macro Highlights

• A review of the current environment and market expectations across US, Europe, UK, China and India.

• Governments debt burden To surge.

• “Soft Landing”: Wishful Thinking?

• US Personal Savings Rate- Gravity in action.

• US Labour Market- Clear signs of weakening.

• US Core PCE-Likely to slide.

Fixed Income Highlights

• A review of US and EU long term rates and credit.

• US Economy- Heading towards a recession.

• US High Yield Spread-Complacency sets in.

Equity Highlights

• A review of the current environment and outlook of US, Europe, China and India equity markets.

• Time to exit oil stocks.

• Too early to call the bottom.

• China Zero Covid Policy: End in sight?

Forex, Commodities & Alternatives

• A review of commodity and FX pricing and rates.