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In this weekly insight, we bring the global economy and fixed income markets to you. Macro at a Glance covers the latest developments in growth, inflation, and labor markets, while Policy Picture and Central Bank Snapshot details our outlook for monetary and fiscal policies. Navigating Fixed Income summarizes how our view of the world and financial markets informs and impacts our investment views.

In this weekly insight, we bring the global economy and fixed income markets to you. Macro at a Glance covers the latest developments in growth, inflation, and labor markets, while Policy Picture and Central Bank Snapshot details our outlook for monetary and fiscal policies. Navigating Fixed Income summarizes how our view of the world and financial markets informs and impacts our investment views.

Inflation has remained elevated across many of the major developed markets suggesting that central bank policy could be more hawkish than expected in the near term. The share of global central banks that are currently raising their respective interest rates is at a record high; nearly 80% of major central banks are hiking. This proportion could remain elevated for an extended period if inflation prints continue to be above respective targets.

We believe equity market tech fundamentals remain strong and select tech companies are well-positioned to outperform in an inflationary environment.

The Fixed Income Navigator, is monthly publication that highlights how our view of the world and financial markets informs and impacts our investment views and this month, we will be Navigating Fed Quantitative Tightening. Three key obstacles have challenged performance in the agency...

The last market cycle was characterized by trend growth, low rates, and yield scarcity, conditions that led investors to believe that favorable risk-adjusted returns could only be found in equities. While risk assets remain instrumental to delivering forward returns, we believe market characteristics today—reflation, high valuation, rising rates—support the case for broadening opportunities to fixed income. Across the bond complex, risk symmetry has improved, yields have risen by nearly two-fold, and coupons have reset to normal levels, enhancing the relative value of bonds to equities.

A year ago, the dominant narrative in markets was that we were heading into a rerun of the “Roaring Twenties,” with the global economy set to enjoy years of above-trend growth as it emerged from the Covid-19 pandemic. Fast...