Macro Monthly From peak inflation to higher trend inflation

Macroeconomic uncertainty is high – and for good reason.

03 May 2022 5 Minuten Lesedauer
Evan BrownLuke Kawa


  • We believe that global equities are less attractive than bonds or credit due to elevated macroeconomic uncertainty and expensive valuations relative to bonds.
  • Elevated inflation is at the root of this macroeconomic uncertainty, and the evolution of price pressures is likely to cause investors to consider a wide range of possible regimes in the near term.
  • In our view, prioritizing a diversified trade set with positions that are asymmetrically skewed for different individual regimes is the most appropriate approach to asset allocation at this time.