These are interesting times in the game of thrones across various countries. Bond vigilantes ended Liz Truss’ premiership in U.K. and forced another leadership contest. China’s Chairman Xi Jinping surprised political observers by scoring a total victory over reformers at the Chinese Communist Party’s 20th Party Congress. Saudi Crown Prince Mohammed bin Salman convinced OPEC+ to cut crude oil production at the most inopportune time for President Biden. This report discusses these events’ investment ramifications and our views on fixed income and equities in the face of a looming recession.
Game of Thrones
November 1, 2022