LC Investment Playbook Weekly Update - 18 August 2023

‍Charts of the week

• Valuations expensive across the board
• Divergent Recession Expectations Across Markets
• Yields are Still at Elevated Levels
• Risks of Spreads Widening
• TINA (There Is No Alternative) era is over
• Unsustainable Divergences
• Are higher yields good for stocks?
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‍LC Views

• A summary of our team's views on Rates, Credit, Equities, Currencies, Commodities and Real Estate.