Inflation Protected
High US inflation is being driven by tariffs, not domestic inflationary pressure. This argues for Fed easing and a bull-steepening of the Treasury curve.
Our Portfolio Allocation Summary for September 2025.
Our Portfolio Allocation Summary for August 2025.
Disinflation continues to unfold globally, and markets are finally catching up. Inflation expectations have broadly realigned with fundamentals, prompting us to shift our global ILB allocation to neutral. While tariff risks are inflating US expectations, pricing in the UK, Japan, and Australia has adjusted sharply. Today’s Strategy Report reviews these developments and updates our country-level ILB positioning.
Our Portfolio Allocation Summary for July 2025.
Our Portfolio Allocation Summary for June 2025.
Our Portfolio Allocation Summary for May 2025.
Our Portfolio Allocation Summary for April 2025.
Our Portfolio Allocation Summary for March 2025.
Our Portfolio Allocation Summary for January 2025.