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We prefer equities even as bond yields have sprinted higher. Global growth is still solid, and we see central banks ultimately living with inflation.
U.S. 10-year yields hit new three-year highs last week, and stocks fell. The European Central Bank affirmed our view it will normalize policy very slowly.
Sentiment data this week could show the economic impact of the tragic war in Ukraine. Chinese GDP data may indicate how lockdowns are affecting growth.