Pernod Ricard goes upmarket in acquisition and distribution strategy, Locked down families build Lego’s fastest sales growth in five years, Gebruder Weiss profits in combining physical and digital innovation.
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Vaccines and US stimulus have the global economy on track for a strong rebound in the second half of the year. We expect the reopening trade to favour equities over bonds, the value factor over the growth factor and non-U.S. stocks over US stocks.
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The death of inflation has been greatly exaggerated. Its return will first scare, then maim, then ruin the traditional balanced portfolios have that served investors well for a generation. Investors need to prepare for a world of greater inflation volatility. And with it a monumental risk—bonds and equities falling in tandem.
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Private debt markets have grown rapidly since the Great Financial Crisis, with global assets under management tripling from $275 billion in 2009 to more than $850 billion in 2019. The European market accounts for about a third of these assets.
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