Conventional wisdom says that central banks keep raising interest rates until something breaks. In this case it was the collapse of Silicon Valley Bank and the forced rescue of a major, though ailing Swiss investment bank. Are we then on a nudist beach? No, but the lifeguard who hoisted the green flag has been removing people’s dry clothes while they bathed in apparent safety.
Martyn Page is investment director of Worldwide Financial Planning which is authorised and regulated by the Financial Conduct Authority
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