Insight from William Bourne is always thought provoking around LGPS investing.
Independent investment and governance advisor to LGPS schemes and charities * asset allocation advisor * Japan
Is the future Risk Off? For most of the 15 years at Linchpin we have broadly been ‘Risk On’ on the basis that monetary policy will come to the rescue in the event of trouble. And broadly we have been right in this assumption: The Global Financial Crisis, the taper tantrum, COVID, and Silicon Valley Bank all appear as blips in a long bull market going back to 2003. We believe we are now moving to an era of low growth, structurally higher inflation, higher bond yields in due course. Crucially there will be less monetary support for markets, because China’s travails are going to suck up a lot of the world’s liquidity. The future may not be a comfortable environment for investors. Please read the full article here. #GlobalFinancialCrisis #monetarypolicy #bondyields #China