The war in Ukraine has exaggerated many trends, including upward pressure on commodities and further disruptions to global supply chains - in the face of elevated inflation.
Valuations look increasingly attractive relative to other fixed income asset classes, even as rising interest rates continue to weigh on the market, strategists say.
Aurèle Storno is adopting a pragmatic approach in the current market environment but is conscious that investors aren’t paying him to park their capital.