All themes
Inflation
69 managers wrote about this in 155 letters. Every passage below is copied verbatim from the letter it came from.
Share of letters mentioning it
- 2026 Q146% of 54
- 2026 Q236% of 296
- 2026 Q342% of 53
- AcatisAug 2026
The significant devaluation of the yen is driving up inflation again, because like Germany, Japan is an energy importer but it is harder hit by the dollar- denominated higher energy prices due to the weak yen.This forces the BoJ to raise interest rates further.
Read the letter → - Guinness Sustainable Energy FundAug 2026
In the event, the budget reconciliation bill of May 2025 initially proposed fewer changes to President Biden’s Inflation Reduction Act (IRA) than expected following President Trump’s election.
Read the letter → We will not try to forecast the path of oil, inflation or rates, but nor do we need to: we would rather own businesses that can navigate a range of outcomes by continuously adapting through effective capital allocation than position the portfolio for any one of the multitude of possible outcomes.
Read the letter →- Loomis Sayles Municipal SectorAug 2026
KEY RISKS: Inflation Risk, Fixed Income Risk, Systemic Risk, Currency Risk, and Market Risk.
Read the letter → We will not try to forecast the path of oil, inflation or rates, but nor do we need to: we would rather own businesses that can navigate a range of outcomes by continuously adapting through effective capital allocation than position the portfolio for any one of the possible outcomes.
Read the letter →- Loomis SaylesJul 2026
There is potential for inflation to decline across developed and emerging market economies through the latter part of this year.
Read the letter → - Guinness Multi-Asset FundsJul 2026
The US economy demonstrated resilience with strong corporate earnings and healthy labour market conditions offsetting inflation concerns.
Read the letter → - Guinness Global Innovators FundJul 2026
This easing in energy market pressure reduced inflation concerns and supported a broad recovery across risk assets, even as bond markets remained directionless while investors continued to assess the impact of energy price volatility on growth and monetary policy.
Read the letter → The energy shock revived stagflation fears, undermining confidence that inflation was contained just as weak US jobs data and falling business and consumer confidence pressured growth forecasts.
Read the letter →- Guinness Sustainable Energy FundJul 2026
A year ago, sustainable energy equities faced pressure from both tariffs and the downsizing of the Inflation Reduction Act (IRA) into the One Big Beautiful Bill (OBBB).
Read the letter → - ACATISJul 2026
Some time ago we also worked with investment banks to develop inflation certificates with leverage for the portfolio, in order to benefit from the highly-inflatio- nary infrastructure investments.
Read the letter → Any threatened price spikes in energy or food have the potential to disrupt the low-inflation and low-rate environment the market is pricing in.
Read the letter →Smaller Stocks - Bigger Opportunities It is where Buffett (GOAT) focused when he managed smaller sums Warren Buffett’s Second Decade Market cap in millions Adjusting for inflation, Warren Buffett spent his second decade focused on small caps and acquisition of micro caps.
Read the letter →Within Asia, in June, the Philippines reported the highest equity returns, up 8.2% as inflation slowed more than markets expected.
Read the letter →With regulated contracts, inflation-protected cash flows, and an ~7% yield, ET offers steady income and optionality from the AI infrastructure build out.
Read the letter →The CPI print on 1 July came in lower than expected (2.8%, down from 3.2% in May), raising the question of whether the rate hike was necessary in hindsight.
Read the letter →This played out against a backdrop of cooling US inflation, which kept the Fed on hold and pushed out the prospect of a near-term rate hike.
Read the letter →- Troy Asset Management Global Equity StrategyJul 2026
The inflation-adjusted value of these three companies is expected to be substantially greater than the total value of all the ~2,600 IPOs that took place between 1995 and 2000.
Read the letter → However, the outbreak of war between the US and Iran at the end of February, and the resulting disruption to oil supplies through the Strait of Hormuz, produced a sharp increase in energy prices and renewed concerns about inflation.
Read the letter →Denmark is a cautionary tale, where aggressive bidding during the 2022-23 inflationary period saw segment margins fall from 5% to 1.5% between 2022 and 2024.
Read the letter →- Guinness Global Energy FundJul 2026
With inflationary pressures, we estimate that new onshore supply has an incentive price of around $3.50/Mcf.
Read the letter → It’s probably too early to look for major productivity gains, but incremental progress can also help the inflation story.
Read the letter →- Hoisington Investment ManagementJun 2026
Globalization's Disinflationary Era (1990-2020) The structural inflation outlook can be understood through the standard economic production function, where output is determined by labor, capital, technology, natural resources, and productivity growth.
Read the letter → The de-escalation of the conflict in Iran led to a marginal re-tightening of credit spreads and a fall in rates on cash instruments, as market expectations shifted from a pricing a series of base rate hikes, to a more pragmatic response by central banks to the increase in short-term inflation.
Read the letter →- Horizon KineticsJun 2026
At the table was one of our analysts and private fund managers, Fredrik Tjernstrom, along with James Davolos, our Director of Research and manager of the Inflation Beneficiaries ETF.
Read the letter → - Ninepoint PartnersJun 2026
The conflict in the Middle East, along with the closure of the Strait of Hormuz, has changed that, with energy prices higher and inflation being brought back into focus.
Read the letter → That in turn saw a repricing of market inflation and interest rate expectations, and lower bond yields.
Read the letter →- Guinness Multi-Asset FundsJun 2026
Oil prices declined, easing inflation concerns and supporting both equity and bond markets.
Read the letter → - Matrix Asset AdvisorsJun 2026
Investors shrugged off concerns about an inflation rate above 4%2 and ongoing geopolitical conflicts.
Read the letter → The contribution to performance of inflation positioning over the course of the quarter will have been positive, albeit limited due to the reduced exposure.
Read the letter →The performance comparator for the Fund is the IA Global Inflation Linked Bond sector (the "IA Sector").
Read the letter →From a macroeconomic perspective, growth forecasts remain subdued, and inflation remains above central bank target levels.
Read the letter →We continue to see value in selective duration exposure and curve opportunities, particularly where recent moves appear to have over-discounted near-term inflation risks relative to the medium-term growth outlook.
Read the letter →Historically, headline inflation pressure often eases following the peak in oil prices, bringing inflation expectations lower.
Read the letter →- PM CapitalJun 2026
Three themes dominated markets in the June quarter: inflation, artificial intelligence and government policy.
Read the letter → Given the severe disruptions to shipping through the Strait of Hormuz, this regional conflict continued to have global implications for energy prices and, by extension, inflation.
Read the letter →- Baron Real Estate FundJun 2026
Should long-term interest rates decline — driven by the deflationary effects of AI, moderating shelter inflation, or a more accommodative Federal Reserve over time — borrowing costs could fall.
Read the letter → - Guinness Global Innovators FundJun 2026
Amid continued conflict in the Middle East, investors remained concerned about inflation risks, heavy government borrowing and the impact of elevated energy prices.
Read the letter → The semiconductor surge occurred despite clear dislocation in the bond markets, as the war underscored both inflationary pressures and fiscal imbalances; inflation breakevens reached their highest levels in more than three years, 10-year US Treasury yields rose 12bps to 4.44%, 30-year yields rose above 5%, and bond markets began to price in rate hikes.
Read the letter →On top of that, Microsoft reportedly has an investment in OpenAI worth over $100 billion, so we think these huge investment gains, if realized, also effectively serve as a hedge against commodity inflation, particularly incremental DRAM- related capex over the coming years.
Read the letter →
Showing the 40 most recent of 155 letters.