Description: The article is about ubs login. The participants of the meeting have discussed whether inflation is returning in a meaningful manner,and whether this poses a threat to markets. They also discussed investment opportunities around inflation.
Inflation is an increasingly important topic today and we’re very interested in hearing what our guests think is the inflation outlook and how they are positioning their portfolios for inflation. We are very much concerned about rising inflation and certainly we’re looking to position for that. I think we are having a synchronized global upturn,we know that inflation pressures are starting to build in the US.
Inflation was there before Tramp was elected. What is the core driver of inflation we’re doing before Trump? It’s mostly wages picking up on a tight labor market.
I personally don’t think the peak is done,I’m trying to play devil’s advocate,I want to say that it’s a consensus view that inflation is going to pick up. I think that in the absence of the Trump administration delivering meaningfully on their policies,if it’s down to the traditional drivers of inflation I think it’s all in the price.
From viewing current growth rates,leaders action and website,I think you’re seeing improvement in the leading indicator for capex,this is optimism,it is improving,we need to focus on deregulation and that might improve business sentiment even further. We think that some current level is quite an upside to Protiviti which might result in modest unit labor costs,that might be a factor which results in inflation.
If you believe in a self-sustaining reflation then ultimately it will uplift beyond the initial challenging point. Being long tips is better than being long nominals,but you can still lose. If you’re buying assets like stocks that are exporting into a US growth machine,that can be a good thing.
Clearly the cleanest way to express is in terms of tips. Both myself and Sampson said that rates are matter a lot here,we are getting an acceleration in inflation and expectations around inflation,that’s containing the roads in real rates,we are bullish in terms of both US equity risk assets and in terms of the dollar.
We had a range of views today on what is going to happen with inflation. For our part we see inflation in the United States continuing to exceed some expectations and therefore we are overweight in tips.