Avoiding the growth trap: Confronting the sanguine inflation consensus

There are few investors currently prepared to take a contrary view on inflation. Most are expecting it to rise but view it as transitory – a shorter-term consequence of Covid-19 already broadly priced into markets.

But what if near-term inflation surprises on the upside? What if higher inflation is here to stay for the longer term? Many portfolios are poorly positioned for these outcomes. At Antipodes, we are...