Central banks are raising rates for the foreseeable future....

Central banks are raising rates for the foreseeable future. Until that stops, markets will be under pressure. Strong retail spending and strong jobs markets will only add to CB pressure to lift rates. They are in a pretty bad position due to the amount of money held across a large number of consumers that wont stop spending at 10% inflation. Esp boomers trying to spend their money before the grave. Never in history have so many people in one generation held so much cash/assets. Supply side shortages just exacerbate the issue.