Midyear Outlook 2022
How to Reap Returns During a Recession
As we enter the second half of the year, many questions remain regarding the trajectory of financial markets and the economy. Our stance on stagflation (or “recession-inflation”) remains steadfast. Drawing parallels to the mid-1970s, structurally, we are in a stagflation environment amid 41-year high supply-side inflation (driven by soaring oil prices and food prices), slowing GDP, and the eventual unravelment of the tight labor market.