April 9, 2021Recent supply chain disruptions are likely to add to near-term inflation pressures by constraining the supply of goods and services in the economy, just as demand is set to bounce back.Longer-term inflation will remain dependent on the interaction of consumer and market inflation expectations, and the Fed’s new approach to monetary policy.
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.