As we start the year of the 2024 American federal elections, there is significant uncertainty. One thing though is virtually certain: the year will be much more volatile than what is currently being priced into the Capital Markets.
There are considerable geopolitical issues, at least one of which is likely to shift economic outlooks. Wars are currently raging in Ukraine and Gaza with other tensions in the areas around the Red and South China Seas. These conflicts will require economic and political resources, both of which seem to be in more limited supply today than earlier.