Amid a global pandemic, challenge and uncertainty can serve to strengthen the bonds among communities, and inspire us to take action for a sustainable future.
The global economy is poised for a strong recovery. Inflation is likely to spike temporarily, but we forecast that much of this rise will reverse later this year.
Longer-dated Treasury yields have climbed as markets consider whether economic growth and inflation expectations might accelerate more rapidly. We believe inflation pressures will remain in check and bond yields will be range-bound.
While there is substantial uncertainty ahead, we believe the pickup in growth and supportive liquidity conditions favor emerging markets investments.