How we’re thinking about investing against a backdrop of inflation uncertainty, geopolitical tension, and likely recession.

Core inflation came in below expectations for October and should moderate in 2023, but likely with bumps in the road ahead.

Inflation is receding and real interest rates are climbing in EM after a year of tightening monetary policy.

The Federal Reserve’s November statement included dovish language, but Fed Chair Powell warned investors not to expect the Fed to stray from its full focus on fighting inflation.

The central bank noted that substantial progress has been made in withdrawing monetary policy accommodation, and expressed concerns around growth and policy transmission lags.

Core inflation in the U.S. outpaced expectations for September and may fortify the Federal Reserve’s hawkish resolve.

The OPEC+ plan to curb oil production complicates the global economic, inflation, and geopolitical outlook and will likely lead to higher prices for key commodities.

The economic outlook remains challenging, but we believe higher yields contribute to a compelling case for bonds.

U.K. financial market volatility is likely to remain high, and the longer-term outlook likely depends on future monetary and fiscal policy.

The Federal Reserve released new economic projections suggesting interest rate hikes will be faster and larger than previously forecast.

The state takes a long view on environmental policy, potentially benefiting California’s cap-and-trade program.

We believe short-dated bonds can offer attractive yields, flexibility, and a means to proceed cautiously as central banks continue to raise interest rates.

The Federal Reserve may be pressured to target a higher terminal fed funds rate as it seeks to tame U.S. inflation expectations following strong price rises in August.

We expect the European Central Bank to continue aggressively hiking rates this year, though moderating from the 75-basis-point level.

Emerging market valuations appear attractive, but country-specific risks can be critical to monitor amid global inflation and rising interest rates.

In Jackson Hole, Federal Reserve officials unequivocally emphasized their commitment to bringing inflation under control – even as the U.S. economy slows.