Monday Macro – Its all about US interest rates, except if you’re British in which case start worrying

Why its so important to get a handle on the US interest rate story. Plus why the Brits are in deeper trouble and why the Eurostoxx is still cheap. PS - the FAANGs are now trading at a PE of under 30!

I know I sound like a recorder player endlessly repeating the same tune, but if you are an equity investor what happens in 2022 to the stockmarkets is heavily dependent on what a) will actually happen to US interest rates, b) what people THINK might happen to US interest rates and c) whether everybody is wrong about what the US Fed THINKs will happen to…