There is much to suggest that inflation will fall significantly next year at the latest. However, investors should not succumb to the illusion that we will quickly return to the low inflation environment of the last two decades once inflation has passed the inflation hump. In our view, in the coming years we should not only expect higher inflation on average than in the last decade, but also increased inflation volatility. Prof. Dr. Bernd Meyer, Chief Investment Strategist and Head of Multi Asset, and Ulrich Urbahn, Head of Multi Asset Strategy & Research, shed light on the reasons, draw parallels to the 1960s and 70s and derive consequences for markets and investors.
Ulrich Urbahn
Ulrich Urbahn is a CFA charterholder and, for many years, was part of one of the world’s top three multi-asset research teams in the renowned Extel survey. After earning degrees in economics and mathematics from Heidelberg University, he spent more than ten years at Commerzbank, where he worked, among other roles, as a Senior Cross-Asset Strategist. He has been with Berenberg since October 2017 and heads the Multi Asset Strategy & Research as well as the Portfolio Management Alternatives departments. In addition, he is a voting member of the Investment Committee and is responsible for capital markets communication.
