Having met a number of clients recently, it is interesting to observe that views are fairly consensual - significant bearishness on bonds (so significant as to encourage a contrarian to be long bonds?), nervousness about equities (although fully invested due to lack of many better opportunities), and wholesale bullishness for 'uncorrelated' assets, particularly those infrastructure related.
This bullishness is reflected in significant demand for shares playing to this theme. For example, HICL Infrastructure recently raised £268m, in excess of the £205m they were seeking, a reflection of how...
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