KKR has released its 2024 Global Macro Outlook by Henry McVey, CIO of KKR’s balance sheet and head of global macro and asset allocation (GMAA).
In “Glass Half Full,” McVey and his team maintain a constructive tilt on the investing landscape for 2024, despite ever-present geopolitical and macroeconomic headwinds. They note that there is still a significant amount of dispersion within and across asset classes that long-term investors can harness to create substantial value. They also note that, while they continue to believe that inflation will remain higher for longer, they expect a temporary disinflationary impulse in the first six months of 2024, which could create opportunities for short-term investors to lean into fixed income instruments.
The following key tailwinds underpin the GMAA team’s constructive view in 2024:
Central Bank balance sheets, which are still near record levels, are creating a cushion that is helping support asset pr
