In the April issue of our monthly flagship publication, we feature:On the Record by Chief Investment Officer Tony Roth, where he reveals how the 2020 recession and ongoing recovery differ from past experience, our overall optimistic view of the U.S. and global economic trajectories, and where we see potential risks and opportunities.
While the stock market ran hot for much of the second half of 2020 to date, the bond market has been mostly on ice. In fact, last summer we saw the 10-year Treasury yield plunge to levels not seen since 1786. Yet, yields have recently begun to surge.
The power of the purse is increasing at an unprecedented pace. A third of the world’s financial assets is now under the control of women. From 2016 to 2019, they accumulated wealth at a compound annual growth rate of 6.1%. Over the next four years, that rate will accelerate to 7.2%—adding $5 trillion more annually to the global wealth pool, according to a comprehensive global study.