Peder Beck-Friis
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In the post-pandemic fiscal landscape, government debt trajectories may be volatile, but appear broadly sustainable.
Despite its cyclical and secular challenges, we believe Europe is a good diversifier for duration in global portfolios.
Debt-financed fiscal policy is driving much of today’s high inflation, but as pandemic-era measures fade, central banks will likely return to their key role in managing price levels.
U.K. Market: Growth, But at What Price?
U.K. financial market volatility is likely to remain high, and the longer-term outlook likely depends on future monetary and fiscal policy.
Despite soaring inflation in Europe, hedges appear cheap
Despite seeing major market swings following the 2016 Brexit referendum, we don’t expect Britain’s departure from the European Union (EU) to have any major economic effects in our baseline outlook for 2021 and beyond. Far more important are COVID-19, fiscal policy, and bigger questions around future productivity growth.