A one-page snapshot of market performance, statistics and trends.
Expecting strong growth and contained inflation over the near term, we see a gradual path to central bank normalization. If inflation picks up, our outlook could change. Among our best ideas: European bank capital, U.S. high yield, securitized credit.
Amid strong growth and modest inflation, it’s a good environment for taking risk. But it is late cycle-no time for complacency. We take U.S. high yield down to neutral, keep a broad regional diversification in equities and a small underweight to duration.
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