By Who will win the tug of war between the bull and bear markets? If you have a clear and certain answer, you'll surely be of interest to an investment bank or asset manager. Investors are sailing blind right now, trying to figure out which of the unknowns will trump the others in the coming weeks.
To my left, the bull is a nervous animal looking to move forward. He has with him the central banks and their money boards, the insatiable appetite of investors for stocks or the insolent strength of the US economy.
On my right, the bear is powerful and can emerge from its den at any time. He is drinking from shortages, the war in Ukraine and rising prices with all its unhealthy variations, from overinflation to stagflation.
And for those who need a reminder about the title, here is a trailer that smells like the 80s.
Drawing by Amandine Victor
