Metcalfe leads State Street Global Markets’ macro strategy team, focusing on how the behaviour of investors and online retailers can help with investment decisions. “Our premise is that looking at the behaviour of investors is helpful when thinking about investment decisions. Knowing how investors are positioned and which assets they currently prefer is typically very informative of where asset markets will go in the future.”
Inflation projections over the past two years have underestimated the scale of the beast, and central banks’ stiff policy tightening today is an attempt to regain some lost credibility, says State Street Corporation’s Michael Metcalfe.
“Understandably, investors don’t have much confidence in the forecasts. That’s why they’re neutrally positioned now. There’s a question about the competence of projections [by] the private sector and central banks.”
