Justin Urquhart Stewart: Alternative thinking

While late February snow is falling as I write, courtesy of the ‘Beast from the East', the global economic perspective is looking pretty sunny. Yet the horizon is seldom cloud-free and stronger than expected global economic growth is bound to come with a wind behind it - in this case, creeping inflation and a rising interest rate environment. It is always good to carry an umbrella, not to mention scarves and gloves at this point, too. Multi-asset managers have a greater tendency than most to plan for all eventualities. While it might make us difficult to go on holiday with, this scenario...