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The Bank of Japan is expected to raise interest rates next year, marking the end of an era. Investors need to prepare for higher rates across the board. When a recession hits, spreads will widen even more. The global economy seems to be heading towards a recession. The hosts discuss the current economic cycle and company earnings, like FedEx and Nike. Japan's economic situation is also a key topic of discussion on Bloomberg Surveillance with Tom Keene, Jonathan Ferro, and Lisa Abramowicz.