Independent Strategy

The inflation fallacy

Inflation is coming back. Will it boost corporate profits and investment, relieving the consumer of the burden of driving global growth? No. It’s a fallacy that rising inflation can deliver higher profits and thus boost capex and growth. Higher inflation and bond yields may lead to a switch to equities for a while. But not for long. Equity multiples will fall. We are staying bearish.

To read the full report - Login or Subscribe

SUBSCRIBE

In the Media