3 Reasons why markets are in a bit of a melt-up phase: Jackson Hole was incrementally dovish on Friday Stark underperformance of hedge funds YTD (we think they will need to chase to minimize their performance drag; see chart below) Positioning was too defensive in recent months We believe there is another leg up in the inflationary assets.
Astoria likes playing this reflation theme via our Inflation Sensitive ETF Portfolio which provides exposure to Cyclical stocks Commodit
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