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Rate hike spooks markets: "A global phenomenon"

Several central banks are signalling tightening at the same time. Investors fear knock-on effects into the new year — DN spoke to three fund managers about what happens next.

When the US Federal Reserve surprised markets with sharper rate rhetoric earlier this week, it took only hours for the effect to spread to the Oslo Stock Exchange. Several Norwegian asset managers now report growing unease among their clients.

"What makes this situation unusual is that we're seeing similar signals from several central banks at once," says one of the fund managers DN spoke to. "This is no longer one country tightening — it's a global movement."

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The rate peak may be higher and last longer than the market priced in June. What three fund managers are doing with their portfolios right now — and what they advise against — is in the rest of this story.

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