Today on the program we welcome back Fidelity International Investment Director Tom Stevenson to the show as he discusses the state of the global equity markets, what are the latest developments in Europe and around the globe, and where he is seeing opportunities. Tom speaks about the inflation and points out that inflation is coming down in Canada and in Europe it’s becoming moderate, but adds we’re not out of the woods yet. Over the next few months, it might go up again 4 to 5 per cent. He adds UK interest moved up a bit. The next question is how long will interest rates stay at peak then come down again as we move towards a recession. Tom also speaks about earnings. He says we’re halfway through the earnings season and so far, so good. The expectation is that we get a decent double-digit bounce back, which constitutes a soft landing. Tom also touches on the slower than expected growth in China and what stocks look attractive right now including consumer stocks in Europe.

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