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Soft landing at risk from escalating war and bracing for the end of ECB’s bond purchase programme

Dan Farrell, senior portfolio manager at Northern Trust Asset Management, warns that hopes of a soft-landing are at risk from being disrupted by the escalating war in the Middle East and advises desks to prepare for some major liquidity events coming up this year.

Following on from a bumper week for data and central bank interest rate decisions, from the Federal Reserve and the Bank of England, Farrell discusses how markets are cautiously optimistic that rates have peaked but says that geopolitical tensions could still hinder the battle against inflation.

The senior portfolio manager also unpacks the asset manager’s current outlook for 2024; where he’s taking on risk and how he advises desks to approach the upcoming week. In this episode, he takes a look at some of the upcoming liquidity events set to impact markets including the end of the European Central Bank’s (ECB’s) Asset Purchase Programme (APP) in March, where it will kick off the process of shrinking securities balance sheet.

05.02.2024


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