The market is bleak, but it will not take much to flip

 Given the events that have unfolded this year and the feeling that there is bad news everywhere we turn, it is perhaps unsurprising to see words like this pop up in our lexicon. Working in financial markets, ‘permacrisis' feels very apt. This has been one of the toughest environments on record with the vast majority of asset classes and sectors on course to deliver significant negative returns over the year. Looking back, we have had as many destabilising events in 2022 as you would expect across a five- or ten-year period, with the Russian invasion of Ukraine the most significant. ...