Despite many similarities between the inflationary period in the 1970s and in the 2020s, the two scenarios are not identical.

The war in Ukraine has had a marked impact on the global economy, redrawing national and international priorities. Investors need agility to cope with...

As the largest beneficiary of the Next Generation EU post-pandemic reconstruction plan, Italy has a unique opportunity to modernise its economy through...

Understanding the outlook for credit markets in 2023

The only way to tackle the new inflationary regime is a credible and abrupt change in the approach to policy: but this seems unlikely to happen.

Understanding how the misallocation of capital in the last macro-financial regime laid the foundations for the prospect of stagflation today.

Understanding why the idea of the fiscal 'free lunch' is an illusion while global debt remains at record highs, and moving into a more fragmented world.

Our analysis suggests that narratives complement traditional macro variables when it comes to explaining financial market behaviour.

In this piece we address the impact of de-globalization on investors, and in particular the road back to the benefits of international diversification.

Understanding the long-term implications of the Russian-Ukraine conflict in the regime shift in course.

Understanding the linkage between money velocity, psychology of inflation in the regime shift, and consequence for investors.

The return of inflation is clearly one of the top themes of 2021 and the post-pandemic economic revival.

Investors have enjoyed stellar performances over the last twelve months. A 60/40 traditional global equity/bond portfolio returned around 19% on a one-year...

One year ago, as the Covid-19 crisis had just begun, we wrote about its potential inflation implications from both a cyclical and a structural standpoint....

Today, most investors are at a loss regarding what to think of the notion of value and valuations and, even most importantly, how to use it in portfolio...