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Financial markets have endured a volatile period this quarter, as aggressive interest rate hikes by major central banks sparked investor fears that the global economy will tip into a recession. This, coupled with the ongoing war in Ukraine and lockdowns in China, has weakened sentiment towards risk assets. 

The US Federal Reserve raised interest rates by 75 basis points (bps) at its meeting in June — the largest hike since 1994 —  after consumer inflation leapt to 8.6% in May, 0.3 percentage points above expectations, and the highest  since 1981...

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