Hi Peter,
Thank you for the thumbs up, much appreciated.
The likes of Twitter, Lyft, Meta & Stripe to name a few have already started layoffs to prepare for uncertain conditions next year, we expect more to follow suit as the recession fear grows/ kicks in. At that stage we believe markets could easily break the lows of 2022 at some point next year i.e. we are very cautious about what comes next despite being bulls at the moment.
At this stage MM simply intends to remain flexible and openminded, we can see ourselves migrating back down the risk curve if equities continue their charge higher in to Christmas.