Short-Term Uptick in the Macro Scenarios

The global investment landscape has navigated several challenges in recent times, including tighter monetary policies in major economies (excluding China), which have heightened recession risks. It's somewhat miraculous that nothing has "broken" so far, especially in emerging markets. Additionally, escalating geopolitical tensions, particularly between the US and China, and rising government debts and deficits have further complicated the investment environment. On a slightly positive note, recent developments suggest a potential short-term easing of some risks. Still in the longer term, given the multitude of permutations, maintaining flexibility in both investment thesis and strategies is likely to become even more crucial.