The macroeconomic environment that has underpinned the global financial markets for the past 25 years is clearly transforming, with potentially profound implications for how investors should think about asset prices and market structures. Indeed, we believe this reshaping of the macro landscape—nothing short of "regime change"—is likely to challenge (and maybe even overturn) many of today's long-held investment assumptions. Nowhere is this more true than on the global inflation and interest-rate fronts. The so-called "easy money" era—a multi-decade period marked by historically low inflation and ultra-accommodative monetary policy—is over.
Important Risks: Investing involves risk, including the possible loss of principal. • Fixed income security risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall. • Foreign investments may be more volatile and less liquid than US investments and are subject to the risk of currency fluctuations and adverse political and economic developments.
The views expressed herein are those of Wellington Management, are for informational purposes only, and are subject to change based on prevailing market, economic, and other conditions. The views expressed may not reflect the opinions of Hartford Funds or any other sub-adviser to our funds. They should not be construed as research or investment advice nor should they be considered an offer or solicitation to buy or sell any security. This information is current at the time of writing and may not be reproduced or distributed in whole or in part, for any purpose, without the express written consent of Wellington Management or Hartford Funds.
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