“worst is yet to come’…

Mexico today increased rates by 75bps to 9.25%… and has now re-established positive real rates… whereas Fed still keeps real rates at -5%…

Buckle up… t.co/FXL3kqexs7

— The Maverick of Wall Street (@TheMaverickWS) September 29, 2022

Bank of America analysts said in a recent research note that investors are flocking to cash as they shun risk assets, with investor sentiment “unquestionably” the worst since the financial crisis.