This is the February edition of Edison Insight. Edison Group has c 400 companies under coverage, of which 97 are profiled in this edition. This month it opens with a strategy piece by Alastair George, who now questions whether 2023’s rally in global equities can be sustained. The global economy has proved more resilient than expected this year, leaving labour markets proportionately tighter. An extension of the period of above-target inflation is becoming increasingly likely, in both the United States and Europe. In terms of central bank policy rates, ‘Goldilocks’ may have already left the building as economies run too hot, even if this overheating may be due to unseasonably warm weather. In recent weeks, financial conditions have tightened as the US dollar has broken its downtrend, while long-term US government bond yields have been making new highs for the year. Global sector performance this year has been a near-perfect mirror image of the final months of 2022. Readers wishing for more detail should visit Edison's website, where reports are freely available for download
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