The US Federal Reserve on 22 Mar 2023 raised interest rates by 25 basis points (bps) or 0.25%. It also signalled caution and indicated that a pause in rate hikes might possibly be on the horizon. Although inflation remains stubbornly high, this comes in the wake of turmoil in the global banking sector — marked by events such as the failure of Silicon Valley Bank (SVB) and UBS’ rescue of Credit Suisse. The next FOMC meeting will take place on 2-3 May 2023. In the following list of commentaries, fund managers share their views on what the current policy environment and tightening financial conditions could mean for investors in the stock and bond markets. <divider><divider>