2nd Quarter Investment Update
- Fiscal policy, especially in the USA
- Good expectations for equity returns—but bumpy!
Our Researcher’s Base Case for Investments and Inflation
Our current base case is that inflation does not get out of control. But we update our tactical views as new information becomes available. And structurally, our portfolios are well-diversified across a range of macro scenarios around our base case.
Our Researcher’s Summation of Covid-19
Fiscal Policy in the USA
The path of fiscal policy in the United States is less certain, given the political dynamics and polarization. The expiration of the pandemic support programs will turn from a fiscal boost to a fiscal drag later this year and in 2022. But this should also lead to increased labor supply, mitigating wage inflation pressures.
What the Research Team Thinks about a Possible Recession
Please click here for the complete investment commentary from our research partners at Litman Gregory.