The last four years have brought three huge shocks: Covid; post-Covid supply disruption; and Russia’s invasion of Ukraine and the subsequent surges in commodity prices. Is this series of vast shocks now over? The deadly assault on Israel and conflict in Gaza suggests that the answer may be “no”. Recent turmoil in bond markets is another mark of persistent lack of predictability.
過去四年帶來了三次巨大沖擊:新冠疫情,疫情後供應中斷,俄羅斯入侵烏克蘭以及隨之而來的大宗商品價格飆升。這一系列巨大沖擊是否已結束?對以色列的致命襲擊和加沙衝突表明,答案可能是「不」。最近債券市場的動盪是持續缺乏可預測性的另一個標誌。
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