THIS year is far from over, though during the first nine months, the financial markets surely delivered more than above average excitement. This is very different compared to the years before the Covid-19 crisis. During that period, all financial assets almost traded higher in value every day. This was very pleasant, and for some investors, it is a period with significant wealth creation, but the tide, in reality, has already changed.

Since the first quarter of this year, energy prices have gone up, inflation has jumped even higher, and there are ongoing talks about when the leading central banks will change track and head toward the journey of monetary tightening. These factors alone have shaken the bond markets at least a couple of times and increased the general fear level among investors in the stock markets.