“As inflation eases and its looks increasingly like interest rates have peaked for now, the only major potential negative overhanging the financials sector is the thought that central banks may have overdone their tightening, which will precipitate a recession that leads to a sharp rise in defaults on the loans that banks have been making.

The managers of Polar Capital Global Financials Trust (PCFT) believe both that the sector is more than pricing in a worst-case scenario and that we are more likely to experience a shallow recession.”

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Some information contained herein has been obtained from third party sources and has not been independently verified by Polar Capital.