April 22, 2021—My three-year-old son has a Hot Wheels racetrack—one of the tracks has a portion low and flat to the ground but then takes off at a steep incline before looping and twisting and returning back toward the ground-level section of track. Where the horizontal portion of the track meets the incline is a motorized gear system that acts as an accelerator and gives the matchbox car a speed boost to stay on the track as it inclines.
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.
March 26, 2021—We are currently overweight emerging markets equities—including Chinese equities. Four pillars support our position. First is our view that the vaccines have prompted a cyclical rally that is, in general, constructive for global equities. Second, we believe emerging markets will see faster economic growth than developed markets. Third, the Asia ex-Japan region, including China, has so far successfully managed the COVID-19 crisis, in our opinion.