Jun Bei Liu, lead portfolio manager of the Tribeca Alpha Fund, says the current reporting season illustrates that corporates are well placed to navigate further growth weakness.

“Interest rates are likely at peak, economic growth has remained resilient, inflation is falling, house prices have not collapsed, mortgage defaults have not become systemic, and the list goes on.

“Corporates remain cautious but fiscal 2024 is likely to be better than fiscal 2023.”

Jun Bei concedes there are pockets of weakness, but says this varies by industry and stock.

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