There's so much uncertainty around at the moment. But
by definition, that's when the rally begins, large
investors are really trying to position for that upswing when
central banks start to ease their policy moves and move
to a pause and then eventually cutting rates. We're
seeing investors look into long dated Treasuries like a 10-year
Treasury bond for instance. And also on equities,
there's some interest in tech stocks which is so beaten
down from last year and more cyclical parts of the
market. There is evidence that shows if you miss
even a few days of market rally, it can
reduce your returns by more than half. There's a
lot of question marks over the dollar which has been
a big haven trade and may continue to be a
haven trade in a recessionary environment. But as the
forecast for interest rates in the U S starts to
come down, that should technically weaken the dollar.