Key highlights from this interesting read:
The tight labor markets fails to relieve stress on wage and services prices.
Global trade is driven less by costs and efficiency and more by national security, supply chain and sustainability.
US has had the largest infrastructure investment in history combined with the contract linked predictable growth of real estate, it offers opportunities for long term returns.
Small caps have historically outperformed following 2 consecutive quarters of GDP contraction. These small cap companies offer innovative products which would be seen as a deflationary hedge.
In the UK there is a recession expected due to the persistent inflation, rising mortgage ratees and structural headwinds to labor supply.
Active security selection will trump simple beta exposure.
High quality short term duration US and EU corporate bonds offer higher yields than saving accounts.
Opportunities in clean energy, resource efficiency and water sustainability.
Clean energy infrastructure will need significant investment from public and private markets.
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