Bank Of America: “The logic of holding a 60/40 portfolio for the long term appears “broken.” The deflationary environment of recent decades seems to be ending amid the reversal of globalization, rise of ESG policies, inflationary demographics, and exhausted tech disruption. The shift from a 2% [average fed funds rate] world to a 5% world means structurally higher inflation and interest rates”
What Should Investors Do?
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