Summary

Juliette discusses the global labor market's tightness, which she attributes to factors such as demographic shifts, strong labor market resilience, and a housing market that lacks a clear transmission mechanism between higher interest rates and lower house prices. She points out that full employment fundamentally changes macroeconomic dynamics, where fluctuations in demand affect wages and inflation rather than employment levels.

Juliette highlights the role of demographics, labor hoarding mentality, and inflation in reshaping the economic landscape. She argues that current interest rates are not yet restrictive, and the continuing strength of labor markets and wage gains may lead to a normalization of yield curves instead of a recession in 2024.

She also discusses the importance of focusing on key drivers in the market to make successful trades and emphasizes the need to understand the timing and size of trades. Juliette's approach is centered on providing clients with valuable, data-driven insights to help them navigate the complex financial landscape.

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