Real Vision TV Expert View: Lower for Longer Global Growth Path
This 30 min Real Vision interview allows TPWIM CIO Jay Pelosky the opportunity to lay out the: "Lower for Longer Global Growth Path” theme underpinning TPWIM's current approach to the global cross asset markets. He begins with our Global Risk Nexus (GRN) Scoring System (as we do every portfolio meeting) and focuses on Potential Growth Rates ( PGR) and Neutral Rates of Interest (NRI) which underpin the thesis. He then covers the impact of the Fed’s pivot and China’s stimulus in supporting this thesis. Jay identifies how one should invest in a Lower for Longer world noting the focus on equity markets with room for multiple expansion, fixed income instruments that offer yield, currencies that benefit from a weak dollar and commodities that benefit from a growth bottom. He discusses the risks of a deeper trade war and lays out why Pres. Trump is unlikely to go the Full Monty (25% on all Chinese exports to the US) on China tariffs. The video is a great example of TPWIM’s capabilities around original investment idea generation, independent cross asset thinking & institutional level analysis. We hope you find it of use.
Filmed on May 20th, 2019 in New York City.
We hope you enjoy the video.
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