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Market conditions ‘horrendous’ due to growing interest rates

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Perpetual’s Head of Investment Strategy Matthew Sherwood says market conditions are “horrendous” due to growing interest rates.

Mr Sherwood said we have “sustained cost pressures” from high commodity prices and very tight labour markets, which is going to “weigh on margins”.

He said the combination was like an “Achilles heel” to the equity markets in the next three months.

“Earnings growth will have to normalise, and I do not believe that has been factored in at the moment,” he told Sky News Australia.



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