Maybe, though the most recent indication is growth surprising on the upside with potential for a negative supply shock in oil. Markets can be pretty fickle though and might change their mind about that as the year unfolds. My best guess is that central banks are comfortable to allow weaker growth if it means getting inflation under control, so any uptick in growth that isn't accompanied by moderating inflation will be met with the "higher for longer" narrative. Meh, forecasting is easy, being accurate, not so much.
The Bear Room, page-1167
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