All Inflation articles – Page 3
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White papersEurozone outlook darkens amid energy crunch
Higher energy prices are squeezing growth, complicating the ECB’s next move and bolstering the appeal of euro-denominated money market funds.
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White papersFive dynamics shaping today’s investment landscape
Geopolitical risk, consumer strain, AI, policy limits, and the changing role of the United States are all shaping global markets. Markets are adapting to a regime shift in which macro, policy, and technology are colliding more directly—and more quickly—than investors have been used to. This set of five articles draws on Seema Shah’s (Chief Global Strategist at Principal Asset Management) discussion of the “five dynamics” shaping today’s investment landscape, translating those dynamics into practical frameworks for portfolio decision-making.
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White papersCIO Weekly: Interest Rates Come Back Into Focus
With all the focus on geopolitics, interest rates remain an important foundation for markets, and last week’s move higher in long-end yields provided a stark reminder of that.
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White papersRising yields, rising uncertainty
“Bond yields at the short end of the curve moved up as markets repriced central bank action in response to inflation. Long-end yields rose mainly because of higher risk premium, as the war in the Middle East continues to create uncertainty.”
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White papersRisk assets face off with rising global bond yields
The recent interest rate turmoil has driven long‑dated government bond yields to notable historical extremes, with U.S. 30-year yields hitting their highest level since 2007, 30-year JGBs since their introduction in 1999, UK gilts since 1997, and German bunds since 2011. Yet, simultaneously, equities have absorbed the rise in yields without too much damage, supported by a strong earnings environment. That resilience should not be taken for granted, however, as the balance of risks is becoming increasingly finely poised.
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White papersRising global bond yields: The test for risk assets
Global bond markets have sold off sharply in recent weeks, pushing long-end yields to multi-decade highs across major markets. U.S. 30-year yields hit their highest level since 2007, 30-year JGBs since their introduction in 1999, UK gilts since 1997, and German bunds since 2011.
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White papersDeglobalisation: Downing the desire for duration
In the latest Fixed on Bonds blog, Premier Miton Fund Manager Simon Prior looks at why fragmenting supply chains can reduce economies of scale and add to cost pressures over time, ultimately feeding through to consumers.
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White papersInflation is back. Where next for investors?
The sudden Iran-led energy shock has clouded the macroeconomic outlook. However, this inflation spike is part of a wider post-pandemic inflation cycle and investors need to be aware high inflation is now structural, not transitory. Supply shocks, not global demand, are fuelling inflation, a backdrop compounded by geopolitics and a lack of fiscal levers available to governments.
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VideoTalking Markets – Why infrastructure keeps powering ahead
In this episode of Talking Markets, Jim Wright, Fund Manager of the Premier Miton Global Infrastructure Income Fund, explains why, in a world shaped by geopolitical upheaval and soaring AI‑related energy needs, infrastructure can be a powerful source of dependable income and long‑term growth. This is a marketing communication.
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White papersInflation question haunts the market
US PPI, a measure of inflation at the producer level, rose to 6% year on year in April, the highest since December 2022 and well above market expectations. Energy price inflation also rose sharply since March. The data suggest that the war in the Middle East is beginning to feed into the real economy through higher input costs for companies, raising the risk that these costs may be passed on to consumers.
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White papersWarsh appointment: Inflation sets the early agenda
Kevin Warsh’s tenure as Federal Reserve chair begins amid heightened market scrutiny as investors grapple with renewed inflationary pressure. Stronger‑than‑expected April CPI reinforces the case for patience, even as the new chair has expressed comfort looking through one‑off price pressures. However, the Fed’s consensus decision‑making structure and the drift of core inflation away from target both suggest policymakers may hold off on cuts and keep policy unchanged longer than anticipated. For investors, the risk is rising that it will be 2027 before they see any further policy easing from the Fed.
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White papersQ1 2026 Emerging Markets Debt Review and Outlook
Emerging Markets (EM) entered Q2 2026 facing heightened geopolitical and macro uncertainty, driven by rising oil prices, shifting inflation dynamics and increased volatility in local markets. Despite these near-term challenges, resilient fundamentals, disciplined policy frameworks and attractive valuations continue to support EM’s longer-term income and diversification potential.
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White papersWhat Does Higher Inflation Mean for the US Economy and Fed?
With inflation rising, consumers are feeling the pinch and the Fed is weighing its options.
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White papersQuality within risk: strategic credit positioning in a resilient economy
In today’s environment of tight spreads and shifting macro crosscurrents, where you invest within below-investment-grade credit matters just as much as whether you invest at all. Nuveen’s latest outlook breaks down why structural quality improvements in high yield, compelling dispersion in senior loans, and the income potential of preferred securities are creating real opportunities for active managers willing to be selective. If below-investment-grade credit is part of your portfolio conversation, this is a timely read. Explore the full paper here.
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White papersApril CPI report: Fed easing is becoming increasingly unlikely in 2026
After an extended period of cooling inflation, the impact of the Middle East conflict is driving a reacceleration in prices. Headline inflation rose 0.6% in April, lifting the annual rate to 3.8% and approaching a three-year high. Similar to March, energy was the largest contributor, accounting for over 40% of the increase. The more notable development in today’s report, however, was the upside surprise in core inflation, which excludes food and energy.
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White papersStability and credibility: The evolution of emerging market debt
Despite a sharp increase in geopolitical risk and market volatility, emerging market debt (EMD) has shown notable resilience. Compared with previous stress episodes, the asset class has held up well versus developed market (DM) rates, US high yield and equities. We see this as evidence that EM is increasingly being judged on its own fundamentals rather than treated purely as a high‑beta risk asset.
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White papersApril jobs report: Solid gains support a Fed holding pattern
The April employment report showed a significantly stronger-than-expected 115,000 gain in payrolls. This was bolstered by a positive revision to last month’s even stronger gain. Strong payrolls and a still-low unemployment rate demonstrate the labor market’s resilience despite the ongoing energy shock, easing concerns about recessionary conditions. Moreover, with wages trending lower, the risk of an inflationary spiral remains low, providing the Fed with some breathing room.
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White papersRethinking income investing: why real estate matters in a more inflationary world
In an era of higher inflation and tighter monetary policy, investors are reassessing portfolio income - including whether it can keep pace with rising prices. Private real estate should increasingly form part of that conversation.
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PodcastInflation-linked bonds can navigate the shocks
The Middle East conflict has triggered a surge in energy and other prices, creating a second inflation shock in four years. Elida Rhenals, a Senior Portfolio Manager in the rates and inflation team at AXA IM Core, part of BNP Paribas Asset Management, tells Chris Iggo, Chief Investment Officer for AXA IM Core, how the short duration inflation-linked bond strategy run by her team can be effective in offering protection and a real return – not just a nominal one – in a slowing growth, rising inflation environment.
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White papers2026 Europe - Self Storage, Sector Update
The self storage sector in the Europe continues to see solid fundamentals, with strong rental growth and stable occupancy despite a marked increase in supply reflecting demand for the sector. Self storage’s relative outperformance to other commercial real estate sectors continues to drive an increase in institutional interest in the sector.
