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Bankers at Hong Kong summit warn of more volatility in 2023

Goldman Sachs, Blackstone executives flag uncertainty ahead

Participants attend the Global Financial Leaders' Investment Summit in Hong Kong on Nov. 3.   © Reuters

HONG KONG -- Markets should brace for more volatility over the next year in the face of rising interest rates, climbing inflation and geopolitical tensions, top bankers and asset managers warned at a financial summit in Hong Kong this week.

Senior executives from some of the world's biggest banks and leading private equity firms said that economic fallout in the wake of the COVID-19 pandemic and Russia's invasion of Ukraine would continue to overshadow markets.

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