Loading... Global Select role INSIGHTS RESPONSIBILITY ABOUT US Search 15 November 2021 Social Sharing 2022 Multi-Asset Outlook: Amid a Sea Change, It’s Time to Catch a Wave AUTHOR: Michael J. Kelly, CFA Global Head of Multi-Asset China is 2022’s biggest wild card, with the economic impact of its push for “common prosperity” and related policy course correction likely to ripple through much of the global economy, dampening global growth and potentially becoming a countervailing disinflationary force. The latter may not be wholly unwelcome given that inflation looks poised to remain too hot in the West. While not hitting the brakes, developed market central banks will gradually be forced to take their feet off the accelerator as 2022 unfolds. While fiscal drags are a thing of the past, incremental fiscal packages are now on their last legs. Overall, we remain confident that a regime shift toward reflation is underway over the next several years, particularly in the US and Europe. Tangible signs should become move evident as we exit 2022. Our Capital Market Line still has a moderately positive slope, yet with a high degree of dispersion (see chart below), signaling an average reward for broad-based risk-taking but the enhanced potential to significantly improve upon this with more selectivity. For more economic and asset class insights, see our full 2022 Investment Outlook: Opportunities in a Climate of Change. 2022 Investment Outlook Opportunities in a Climate of Change Explore Now Banner Curve Related Insights 17 November 2021 Multi-Asset 2022 Asia Multi-Asset Outlook: Opportunity Comes in Waves Amid Reopenings and Reforms By Mary Nicola View 5 November 2021 Multi-Asset Investment Strategy Insights: Will Energy Become the Next Economic Bottleneck? By Michael J. Kelly, CFA View 4 October 2021 Multi-Asset Investment Strategy Insights: Gauging Evergrande’s Spillover Effects By Michael J. Kelly, CFA View 8 September 2021 Multi-Asset Investment Strategy Insights: China’s Course Correction Toward a ‘Common Prosperity’ By Michael J. Kelly, CFA View Global Select role COOKIES PRIVACY POLICY REGULATORY DISCLOSURE TERMS OF USE SITE MAP ABOUT PINEBRIDGE CAPABILITIES FIRM LEADERSHIP INSIGHTS MEDIA & PRESS RELEASES OFFICE LOCATIONS By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Our Cookie Policy Cookies Settings

Loading... Global Select role INSIGHTS RESPONSIBILITY ABOUT US Search Corporate Responsibility Company Responsibility Banner Curve Banner Curve Banner Curve Banner Curve Feeding America, the largest hunger-relief organization in the US. Habitat for Humanity Hong Kong, supporting projects across Asia-Pacific that help families in need of decent and affordable housing. Banner Curve Global Select role COOKIES PRIVACY POLICY REGULATORY DISCLOSURE TERMS OF USE SITE MAP ABOUT PINEBRIDGE CAPABILITIES FIRM LEADERSHIP INSIGHTS MEDIA & PRESS RELEASES OFFICE LOCATIONS