Q2, 2022: A Nickel For Your Thoughts

Growth, Inflation & Policy SLOWING GDP GROWTH Growth is unquestionably decelerating, while inflation prints are seemingly perpetually overshooting. Coming into the year, we believed inflation would be the key driver of economic and capital-market returns. Putin’s invasion of Ukraine has only served to intensify this critical dynamic and has put the Federal Reserve in a…

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Q1, 2022: Candyland

Growth, Inflation & Policy SLOWING GDP GROWTH Growth is unquestionably decelerating, while inflation prints are becoming increasingly important. Should we see inflation accelerating from here, expect fireworks. If inflation however starts to decelerate, it could be a decent year for risk assets. While we are watching inflation as the primary driver of outcomes this year,…

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