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Carmignac: New investment themes for a new economic landscape

Carmignac: New investment themes for a new economic landscape

As 2022 draws to a close and 2023 begins, we’d like to share with you our investment outlook for the coming year.

As we’ve mentioned several times in the past few quarters, the business cycle is returning to normal now that inflation is back on the scene – meaning investors will need to adjust their mindsets to the new global economic landscape. We’ve explained before why we believe inflation will remain structurally higher; the reasons include demographically fewer savers in the countries whose economies matter, a probable decline in the share of international trade in global GDP in the coming years, efforts to speed the pace of the energy transition, the end of Pax Americana, and policymakers’ refusal to watch their economies suffer a contraction. Read more>