Research Affiliates: Tough Decade Ahead as Easy Money Era Ends, Causing More Market Pain
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Markets may face a decade of austerity as the era of easy money ends, according to Research Affiliates.
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October's stock slump signals the economy is normalizing under higher interest rates.
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Tight monetary policy will likely pull down asset prices further, while inflation stays high.
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Investors should seek safe havens like gold, real estate, some commodities and digital assets.
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Value stocks and emerging markets may outperform in the new environment of positive real rates.