Growth vs. Inflation Dilemma

Weekly Comment | Fixed Income

U-turn in Chinese tech stocks triggered by a pledge from the Chinese authority to support the economy and the (global) markets; geopolitical headlines have brought some cautious optimism among investors.

Fed announced a 25bps lift-off and hawkish stance for the rest of the hiking cycle; dynamic between growth and inflation remains a major concern for the market.

Risk is still skewed towards the downside despite the recent rebound. However, in some non-cyclical segments we bought into the current weakness and have slightly increased credit duration.

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