France faces a severe fiscal deficit and rising political risk from populist extremes, making French government bonds unattractive relative to German Bunds.
LATAM equities benefit from commodities and pro-market politics.
Latin American equities benefit from a positive competitive shock from cheap Chinese imports, strong commodity exposure, and a wave of pro-market political shifts.
The author argues that despite "good" headline inflation prints, sticky inflation in essential services (funerals, nursing homes, childcare) remains high, suggesting underlying price pressures persist and the "inflation is over" narrative is premature.
The author argues that despite "good" headline inflation prints, sticky inflation in essential services (funerals, nursing homes, childcare) remains high, suggesting underlying price pressures persist and the "inflation is over" narrative is premature.