SINGAPORE - It's been a tough year for investors: Stocks and bonds in the United States have posted their worst starts to a year in more than half a century; crypto markets are tanking; and Asia's bear market is now the longest since 2000 and nearly twice as long as the average drawdown of eight months.
This violent shift in market mood is occurring against the backdrop of a macro regime shift - from deflation to soaring inflation, and from unprecedented quantitative easing to rapid monetary tightening.
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