The world record for limbo dancing involves remaining on your feet but getting under a pole which is only six inches above the ground. I’m just going to let that sink in for a second: six inches. Many readers, like me, will recognise limbo as a Caribbean dance designed to humiliate the less supple and more inebriated party goer.
By design, failure is inevitable as the bar becomes lower and lower each time. Equally, economic interest rate cycles have seen peak rates clear a lower and lower bar for the last fifty years. Each cycle the zenith is lower than the previous cycle and each time it seems impossible that the cycle will be able to fit under the bar again. In the years ahead, the question investors want answered is: Will we beat six inches or are we set to knock the bar off?
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