“The global equity rally since the beginning of the year has faded after a bruising pullback last month with persistently sticky inflation and hot labour markets forcing market participants to change their outlook on the path of interest rates,” Dropkin writes in a March 16 note.
Fidelity International’s head of equities for the Asia-Pacific (APAC) region has sounded a dire warning, cautioning that the fallout from Silicon Valley Bank’s collapse will soon reach this part of the world.
This is on top of an already challenging environment, with ongoing uncertainty over the future path of the global economy and interest rates, says Marty Dropkin, head of equities, APAC at Fidelity International.
