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</html><thumbnail_url>https://www.cambridgeassociates.com/wp-content/uploads/2022/12/CA-Globe-for-Outlook-01-scaled-e1717700782120.jpg</thumbnail_url><thumbnail_width>2560</thumbnail_width><thumbnail_height>1439</thumbnail_height><description>We expect interest rates will increase in many developed markets, as implied by market pricing. But we think the Fed will hold rates in restrictive territory for longer than expected. We don&#x2019;t believe any increases will prompt another European sovereign debt crisis.</description></oembed>
