2023 Will Be Harder Than 2022: Hornbach

The video discusses the challenges markets face post-pandemic, focusing on inflation and policy changes. It explores conviction views for early 2023, highlighting trends and opportunities, particularly in the U.S. dollar and curve steepeners. The discussion includes potential recession risks and the dollar's role as a diversifier in a risk-off environment. The dollar's correlation with financial and real assets is examined, with a modest positive outlook for 2023.

What are the prevailing consensus views among investors and central bankers regarding post-pandemic inflation?

How does the speaker perceive the market conditions for 2023 compared to 2022?

What is the speaker's view on the dollar curve steepener in the US?

What potential economic scenario could lead to a liquidity crunch and affect the dollar's value?

In what context does the speaker suggest the dollar could push higher in 2023?