Transitory for longer
6 minute watch
- The portfolio shifted from focusing on the “industrial V-shape” i.e. capex and recovery plays to “consumer re-opening plays“
- Inflation could be stickier than expected whilst the long end of the yield curve remains suppressed due to the accommodative stances of central banks
- Idiosyncratic stock specific merits remain the key focus for John and ultimately drive the stock selection process
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