Entering 2026, the market is bracing for a shift. While the consensus expects inflation to cool, the fundamentals suggest a different path: inflationary growth.

In the second half of the conversation on The Wealth Enterprise Briefing, Managing Partner Michael Zeuner and Global Head of Macro Sam Sudame move beyond sentiment to discuss how this "stubborn" inflationary environment should reshape a private investor's portfolio.

They discuss:

• Why Sam expects inflation to stay sticky in 2026
• What inflationary growth can mean for cash and bonds
• Why duration risk matters if rates rise
• Where credit and structured fixed income may fit
• Why equities can benefit, unless policy turns restrictive
• Why real assets may play a bigger role when pricing can adjust

Sam also notes that growth support is not limited to the U.S., pointing to policy support abroad as another factor to watch as the year develops.

Listen to the full briefing below to hear Sam's specific outlook on why international stimulus in Europe and Japan makes overseas risk assets particularly attractive right now.

Have questions about how inflationary growth affects your specific allocation? Please contact us; we're here to help.

Important Information:

The Wealth Enterprise Briefing contains our current opinions and commentary, which are subject to change without notice. The Briefing is distributed for informational and educational purposes only and does not consider the specific investment objective, financial situation or particular needs of any recipient. Information contained herein has been obtained from sources we believe to be reliable, but we do not guarantee its completeness or accuracy. The information in the Briefing is not a recommendation of any security, and should not be relied upon as investment, legal or tax advice. Please consult with your investment, legal and tax advisors regarding any implications of the information presented in this presentation.