Portfolio manager David Wolf shares his global outlook and his fund positioning across asset classes and regions, and weighs in on changing monetary and fiscal policy. Inflation is at 5%, and in the U.S., core inflation (excluding food and energy) is up to 3.8%. David believes that in the near term, supply and demand are the most significant factors of inflation, noting that we have supply chain disruptions from COVID. David notes that the housing market has come to dominate the economy as it represents a record portion of capital spending. He believes that if a policy does not address this issue, there will be a natural correction sometime in the future. David explains how the Global Asset Allocation team keeps balanced portfolios, and he also shares how often the team rebalances portfolios, and the unique tactical opportunities this year has provided.
Recorded on June 10, 2021.