Ken Wattret
speaker
312 appearances
3 recordings
1 series
first heard Jun 2026
last heard 11 Jul
Ken Wattret’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Jul 2026 with 2.
Appearances
It's been interesting because in the early part of June we saw tech stocks coming under pressure and then in the recent past because we had the agreement signed in the Middle East and risk appetite has come back.
Equity markets have rebounded.
Our feeling is it's quite likely that the concerns about a potential correction in equity prices will persist.
There are a number of reasons to think that.
One is because valuations are so elevated.
Two is because market capitalization relative to GDP is extreme in some economies.
A third is the concentration in the market, in other words, that a smaller number of companies accounting for a bigger share of market capital.
Then there's the issue of leverage, including in the shadow banking sector, which has been growing for some time.
And then ultimately the potential for overcapacity and disappointing returns.
Now, to be clear, in terms of what we're forecasting, a major correction in equity prices is not in our base case.
But were it to happen
That would be a game changer for our assessment of the economic and financial outlook and probably much more so than we saw in the early two thousands after the dot com bubble burst.
There are a few reasons for thinking it would be bigger, but one of them is the lack of policy ammunition that's available to try and limit the damage.
And that ties in with the general theme of shaky economic foundations.
You can counter some shocks, but when the policy space to do so is limited, it leaves economies much more vulnerable.
I'm gonna cheat here and I'm gonna give you two, but I promise you I'll keep them very brief.
So, first, we've got a new person running the world's most important central bank, and he's about to chair his first policy meeting.
Now, Kevin Walsh has talked about reining in the size of the Fed's balance sheet, and that could be a really big deal for global markets.
It could matter a lot for treasury yields, so borrowing costs in the real economy, the shape
of the yield curve, the dollar, and so on.
Showing 161–180 of 312 · page 9 of 16
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